#USStablecoinBill

As of May 5, 2025, the U.S. Senate's stablecoin

legislation, the GENIUS Act, faces significant hurdles. Initially enjoying bipartisan support, the bill now encounters opposition from nine Senate Democrats who express concerns over inadequate measures against money laundering and financial system risks Politico. The bill's association with former President Trump's crypto ventures, notably World Liberty Financial's USD1 stablecoin, has intensified scrutiny. Democrats worry about potential conflicts of interest and the bill's implications for financial stability Axios While Republicans aim to advance the legislation, the current impasse underscores the complexities of establishing a regulatory framework for stablecoins in the U.S.