#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 legislation, as the proposal needs the support of at least seven Democratic senators to pass the Senate. Nevertheless, some lawmakers are still expressing a willingness to work on amendments to the proposal. $USDC