#USStablecoinBill
TEAM
THE FACTS THAT YOU NEED TO KNOW
➡️In mid-March, the U.S. Senate Banking Committee passed the GENIUS Act—stablecoin legislation—with bipartisan support. However, ahead of a full Senate vote, momentum has stalled.
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↪️Despite prior backing, nine pro-crypto Democrats, including four who voted for the bill, now oppose it due to concerns over national security, anti-money laundering, and oversight gaps.
↪️The bill’s updated version hasn’t been released, causing unease. Tensions heightened after Trump-affiliated entities launched a stablecoin tied to a controversial $2B investment in Binance, prompting ethics concerns. Senator Elizabeth Warren called the move “corruption.”
↪️With only 53 Republican votes, bipartisan support is crucial. Lead sponsor Sen. Bill Hagerty urges collaboration, but without key amendments, the bill’s path forward remains uncertain.
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