PANews reported on May 4 that according to Cointelegraph, nine Democratic senators who had supported crypto-friendly legislation recently announced that they would oppose the Republican-led stablecoin bill if it is advanced in its current form. The nine Democratic senators said in a joint statement that the bill still has deficiencies in anti-money laundering, national security and accountability mechanisms, and needs to be further improved, otherwise they will not support the bill through procedural voting. This move may affect the prospects for the passage of the United States Stablecoin National Innovation Guidance and Establishment Act (GENIUS ACT) promoted by Republican Senator Bill Hagerty.