#USStablecoinBill

The U.S. In StablecoinBill, known as the GENIUS Act, is facing significant political hurdles despite initial bipartisan support. Designed to establish a federal framework for stablecoins, it mandates 1:1 backing with cash or Treasuries and subjects large issuers to Federal Reserve oversight. However, nine Senate Democrats have withdrawn their backing, citing concerns over anti-money laundering provisions and potential conflicts of interest, particularly involving the Trump family's crypto ventures. This legislative uncertainty casts doubt on the bill's future and underscores the complexities of regulating digital currencies in the U.S. CryptoRegulation #DigitalDollar