U.S. Stablecoin Bill Faces Political Turmoil Amid Presidential Crypto Ventures"
The U.S. Senate is preparing to vote on the GENIUS Act, a proposed stablecoin regulation bill that has garnered bipartisan support. The bill aims to establish a regulatory framework for stablecoins, including requirements for reserve ratios, transparency, and compliance with anti-money laundering laws. However, the legislation has encountered significant political challenges due to President Donald Trump's involvement in cryptocurrency ventures.PYMNTS.com+6Time+6Cointelegraph+6CryptoTvPlus+4Investors+4Digital Watch Observatory+4Axios+2Reuters+2Time+2
Democratic lawmakers, led by Rep. Maxine Waters and Sen. Elizabeth Warren, have expressed concerns over potential conflicts of interest, citing a $2 billion investment deal involving Trump's family company, World Liberty Financial, and its stablecoin project. These developments have led to a walkout during a scheduled House hearing and calls for investigations into potential ethical violations .Axios+2Time+2Reuters+2Axios
Despite these tensions, the GENIUS Act has passed the Senate Banking Committee with an 18-6 vote and is expected to proceed to the full Senate for a vote on Thursday. If approved, the bill will move to the House and, if passed, to President Trump for final approval .Cointelegraph+2CryptoTvPlus+2Digital Watch Observatory+2
The outcome of this legislation could significantly impact the future of digital asset regulation in the United States, balancing innovation with ethical governance.Reuters+1Axios+1
Political Tensions Surround U.S. Stablecoin Legislation


Time
Why Top Democrats Are Revolting on Crypto Legislation
Today

Reuters
#Trump's crypto ventures cause tensions to bubble over as Democratic lawmaker scuttles key hearing
Today



Sources
