Ten U.S. senators jointly oppose the updated version of the stablecoin regulation bill "GENIUS"

Planet News: Crypto reporter Eleanor Terrett reported that 10 U.S. senators issued a joint statement indicating they cannot support the updated stablecoin regulatory bill 'GENIUS Act' released last week. The joint statement highlighted multiple issues, including insufficient anti-money laundering provisions and concerns about national security and financial system safety. Notably, Democratic senators Gallego, Warner, Kim, and Blunt Rochester, who supported the original version of the bill during the March banking committee review, were on the list. The bill's co-sponsor Angela Alsobrooks did not sign the letter. The 'GENIUS Act' (full name "Guiding and Establishing National Innovation for U.S. Stablecoins Act") is a legislative proposal introduced by the U.S. Senate on February 4, 2025, aimed at establishing a comprehensive regulatory framework for "payment stablecoins" within the United States, to promote financial innovation, protect consumers, prevent illegal financial activities, and consolidate the dollar's dominant position in the global financial system.