#USStablecoinBill

Latest Developments in the US Stablecoin Regulation Bill

The US Stablecoin Regulation Bill, known as the "GENIUS Act," has seen dramatic developments in recent days. After receiving bipartisan support, nine Democratic senators have withdrawn their backing, citing concerns about anti-money laundering, national security, and consumer protection.

Tensions have heightened due to the bill's connection to the Trump family's interests in the cryptocurrency space, especially after a $2 billion deal regarding a stablecoin known as USD1, launched by World Liberty Financial, in which the Trump family holds a significant stake.

Despite these challenges, Republicans are seeking to pass the bill before the August congressional recess, but divisions within the Democratic Party threaten to significantly delay or alter the legislation.

At the same time, major companies like Visa continue to expand the use of stablecoins, increasing pressure on lawmakers to find an effective regulatory framework.