#USStablecoinBill

#USStablecoinBill: Regulatory Clarity or Political Crossfire?

The U.S. Senate is advancing the GENIUS Act, aiming to establish the first federal framework for stablecoins—mandating 1:1 backing, Federal Reserve oversight for large issuers, and prohibiting algorithmic coins . However, recent political tensions have emerged. Nine Senate Democrats have withdrawn support, citing concerns over money laundering and financial risks . Additionally, ethical questions have arisen due to former President Trump's family's involvement in a stablecoin venture .

As the crypto industry watches closely, the outcome could redefine stablecoin regulation in the U.S.