#USStablecoinBill $USTC Bill Faces Senate Roadblock Amid Bipartisan Tensions*

The U.S. Senate's efforts to establish a federal regulatory framework for stablecoins have encountered significant obstacles. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, initially receiving bipartisan support, is now facing opposition from several Senate Democrats.

---

🏛️ Background on the GENIUS Act

Introduced by Senator Bill Hagerty (R-TN) and co-sponsored by Senators Kirsten Gillibrand (D-NY) and Angela Alsobrooks (D-MD), the GENIUS Act aims to regulate U.S. dollar-backed stablecoins. The bill passed the Senate Banking Committee with an 18-6 vote, garnering support from both parties [1] .

---

🚫 Democratic Concerns Emerge

Despite initial support, nine Senate Democrats have withdrawn their backing, citing concerns over the bill's provisions. They argue that the revised version lacks adequate measures to address money laundering, national security risks, and consumer protections [2] . Senator Elizabeth Warren has been vocal about the need for stricter regulations to prevent potential misuse of stablecoins

💼 Ethical Questions Surrounding Trump Family Involvement

Further complicating matters are reports linking the Trump family to a $2 billion stablecoin venture through World Liberty Financial. This association has raised ethical concerns among Democrats, who fear that the legislation could inadvertently benefit the former president's financial interests

🔄 Current Status and Outlook

The bill's progression has stalled due to the emerging bipartisan divide. While Republicans remain optimistic about advancing the legislation, the withdrawal of Democratic support poses a significant hurdle. Senate Minority Leader Chuck Schumer has called for further negotiations to address the raised concerns.