#USStablecoinBill

A group of senators opposed the stablecoin bill in the U.S.

A group of nine Democrats in the U.S. Senate has opposed the bill "Guiding and Establishing National Innovation for U.S. Stablecoins" (GENIUS).

According to a joint statement from the politicians, the bill contains a number of serious issues. This includes, in particular, an insufficient number of measures aimed at countering money laundering and financing terrorism.

At the same time, four out of nine Democrats signed the appeal, although in March 2025 they supported the bill during its review in the Banking Committee. These are: Ruben Gallego from Arizona, Mark Warner from Virginia, Lisa Blunt Rochester from Delaware, and Andy Kim from New Jersey.

The bill was also opposed by crypto skeptic Elizabeth Warren. She directly stated that it is related to the president's connections with the platform World Liberty Financial, whose stablecoin — USD1 — was used for a deal between the UAE state company MGX and the Binance exchange.