🚨STABLECOIN #BILL FACES DEMOCRATIC PUSHBACK IN SENATE

🔹Schumer & Warren urged Senate Democrats to withhold support for the GENIUS Act.

🔹9 Democrats reversed course, shocking GOP aides and stalling progress.

🔹Concerns raised over treatment of foreign issuers like Tether and Trump-linked crypto ties.

The GENIUS Act mandates:

🔹100% reserve backing for stablecoins

🔹Monthly reserve disclosures

🔹Annual audits for issuers with >$50B market cap

🔹Democrats demand stronger national security & AML provisions.

🔹Talks continue; bipartisan optimism remains for bill revision.