#USStablecoinBill

The U.S. Senate is currently debating the GENIUS Act, a bill aiming to establish a federal regulatory framework for stablecoins. Initially enjoying bipartisan support, the bill has faced setbacks as nine Senate Democrats withdrew their backing, citing concerns over insufficient safeguards against money laundering and financial instability . Complicating matters are ethical questions surrounding a $2 billion stablecoin deal involving a firm linked to the Trump family . Despite these challenges, proponents argue that the legislation is crucial for modernizing the U.S. payment system and maintaining the dollar's dominance in the digital age . The outcome of this legislative effort remains uncertain.