The US Treasury Secretary criticized the Senate for failing to pass the GENIUS bill, stating that it missed the opportunity to lead the development of stablecoins

Odaily Planet Daily News: US Treasury Secretary Scott Bessent criticized the Senate for failing to push the GENIUS bill, stating that this is a historic opportunity for the US to lead the world in regulating stablecoins and digital assets. He pointed out that the bill could have strengthened the dominant position of the US dollar and provided institutional guarantees for the United States' global influence in financial innovation. Bessent stated that without a unified federal regulatory framework, stablecoins will continue to face fragmented state-level regulations, which is not conducive to their global development and the enhancement of their competitiveness in the United States. Finally, he called on lawmakers to either lead or watch innovation go global.