#USStablecoinBill

\#USStablecoinBill

The U.S. Senate's GENIUS Act, aiming to regulate stablecoins, is facing bipartisan challenges. Originally supported, nine Senate Democrats have withdrawn their backing, citing concerns over anti-money laundering provisions and financial system risks . The bill mandates that stablecoins be fully backed by U.S. dollars or Treasury securities, prohibits algorithmic stablecoins, and sets reserve requirements . However, ethical issues have emerged, particularly regarding World Liberty Financial, a crypto company partly owned by the Trump family, which is expanding globally and facing scrutiny over potential conflicts of interest . Despite these hurdles, proponents emphasize the bill's potential to bolster the U.S. dollar's dominance in digital transactions .([PYMNTS.com][1], [Politico][2], [Forbes][3], [WIRED][4], [Cointelegraph][5])

[1]: https://www.pymnts.com/cryptocurrency/2025/can-senate-genius-stablecoin-bill-keep-companies-smart-crypto/?utm_source=chatgpt.com "Senate’s GENIUS Stablecoin Bill Calls for Shared Oversight"

[2]: https://www.politico.com/news/2025/05/04/how-senate-crypto-negotiations-fell-apart-00326129?utm_source=chatgpt.com "Why the Senate crypto bill is in turmoil"

[3]: https://www.forbes.com/sites/tonyaevans/2025/02/17/what-the-newest-crypto-bills-in-congress-mean-for-stablecoins/?utm_source=chatgpt.com "GENIUS Act Vs. Waters Bill: Competing Paths For U.S. Stablecoin Regulation"

[4]: https://www.wired.com/story/as-trumps-family-crypto-business-gains-steam-ethical-concerns-mount?utm_source=chatgpt.com "As Trump's Family Crypto Business Gains Steam, Ethical Concerns Mount"

[5]: https://cointelegraph.com/news/us-stablecoin-bill-regulation-dollar-dominance?utm_source=chatgpt.com "US lawmakers propose stablecoin bill to boost dollar dominance"