Stablecoin Regulation Uncertain in the U.S.
Senator Elizabeth Warren has called for the suspension of the bill, citing concerns over potential conflicts of interest involving stablecoin projects linked to institutions close to the Trump family. In particular, billion-dollar agreements with the UAE-based company MGX have drawn significant attention.
Nine Democratic senators who had previously supported the bill have withdrawn their backing due to concerns over national security and anti-money laundering (AML) provisions.
The bill aims to establish a federal legal framework for stablecoins. However, recent developments have made the process increasingly complex due to political divisions and ethical controversies.