The Senate vote on the stablecoin GENIUS bill failed, with Democrats accusing Trump of conflicting interests in the currency According to NBC, the US Senate rejected the GENIUS Act, a regulatory framework for stablecoins, by a vote of 48:49 due to collective opposition from the Democratic Party, stating that the Trump family's involvement in cryptocurrency poses a risk of corruption. Although the Republican Party has a majority, it has not reached the 60 vote threshold.