?$?🇸 U.S. Stable coin Bill Faces Political Turmoil

The GENIUS Act, a bipartisan effort to regulate U.S. stable coins, is encountering significant hurdles. Introduced in February 2025, the bill aims to establish a federal licensing framework for stable coin issuers, requiring them to maintain 1:1 reserves and comply with federal banking regulations.

However, political tensions have escalated following reports that former President Donald Trump's family could financially benefit from a stable coin deal involving a Dubai firm. This has led to concerns over potential conflicts of interest and national security risks.

In response, Senate Democrats have withdrawn support for the GENIUS Act and introduced the "End Crypto Corruption Act," aiming to ban federal officials and their families from investing in or endorsing digital assets.

With the Senate vote approaching this Thursday, the future of the GENIUS Act remains uncertain. The outcome will significantly impact the regulatory landscape for stablecoins in the U.S. $BTC $SOL $XRP