John Thune: “on Thursday afternoon, Democrats abruptly ended extensive bipartisan work on the GENIUS Act and filibustered the…”

“on Thursday afternoon, Democrats abruptly ended extensive bipartisan work on the GENIUS Act and filibustered the Senate's attempt to move this bill. Democrats, I should say, who had voted for the bill in committee, inexplicably chose to vote against it here on the Senate floor. That is pretty difficult to understand. Providing a regulatory framework for stablecoins is a bipartisan issue. The bill is the product of a bipartisan negotiation, and the vote in the Banking Committee was definitely bipartisan--which leads you to wonder, of course, if this was really about the bill at all or if this was about wanting to deny President Trump or Republicans, more generally, a legislative victory, which might be nice for Democrats but leaves stablecoin issuers and Americans who use stablecoins in the same difficult spot that they are currently in. But unfortunately, it is pretty clear that obstructing, not legislating, is the Democrats' priority right now. Until Democrats come to their senses and allow us to proceed to the GENIUS Act, we are going to turn to nominations, another area where, unfortunately, Democrats have made obstruction the name of the game. I certainly understand that Democrats are not going to support all the President's nominees; that is their prerogative as Senators. But the way that they are drawing out this process on even noncontroversial nominations is serving no one. Mr.…”