In a rare occurrence, which may only last for a week, Democrats in the Senate showed some spine and voted down an important procedural vote on the GENIUS Act, a bill that would establish a (very weak) regulatory framework for the use of stablecoins.

Senate Democrats are considering asking Senate Republican leadership to delay a vote on the GENIUS Act this week to allow for more time for negotiations, Axios has learned. Why it matters: Lawmakers made progress toward saving the crypto bill during an 11th-hour meeting Wednesday,