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U.S. Senators Plan to Modify the GENIUS Act to Address the Trump Family's Stablecoin
The Senate Minority Leader, Chuck Schumer, will support efforts to amend the stablecoin bill to add guardrails against Trump's crypto ties.
$Although the majority of U.S. Senate members voted on May 20 to advance a bill to regulate payment stablecoins, prominent Democrats plan to propose an amendment to the legislation to address President Donald Trump's connections to the cryptocurrency industry.

According to a May 22 Axios report, Senate Minority Leader Chuck Schumer and Senators Elizabeth Warren and Jeff Merkley will introduce an amendment to the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, to prevent a U.S. president from profiting from stablecoins. The proposed amendment comes after 18 Democrats joined Republicans in the Senate to vote in favor of advancing the bill on May 20, after failing in a procedural vote on May 8.
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