Galaxy Digital Research Director: 9 Senate Democrats oppose the current version of the GENIUS Act.

GateUser-6433627c · 2025-05-03T23:32:22+00:00

Alex Thorn, head of research at Galaxy Digital, pointed out that 9 Senate Democrats oppose the current version of the GENIUS Act, stating they cannot support ending the debate. Among them, 4 senators who previously supported the bill's progress indicated that they would no longer support passing the bill in a full Senate vote if the bill is not amended.

GateUser-6433627c

2025-05-03 23:32:22

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[Galaxy Digital Research Director: 9 Senate Democrats oppose current version of the GENIUS Act] Galaxy Digital Research Director Alex Thorn posted on X that 9 Senate Democrats (6 of whom are members of the Senate Banking Committee) oppose the current version of the GENIUS Act (Senate stablecoin bill). The group stated that if the current version of the bill is submitted to a full Senate vote, they “cannot vote to support ending debate.” It is worth noting that the four signatories (Senators Rochester, Warner, King, and Gallego) previously voted in March to support the bill’s advancement in the Senate Banking Committee, but they have now stated that they will not support the bill in the full Senate vote unless modifications are made to it.

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