#USStablecoinBill

Recently, there has been significant development regarding the proposed stablecoin legislation in the USA. A group of nine Democratic senators has opposed the GENIUS Act, which aimed to create the first federal regulatory framework for stablecoins. The senators expressed concerns about combating money laundering, national security, and the accountability of foreign stablecoin issuers.

This move could jeopardize the approval of the bill, as the proposal requires support from at least seven Democratic senators to pass in the Senate. Nevertheless, some lawmakers continue to express a willingness to work on amendments to the proposal.