️ Stablecoin Bill Halts Due to Trump's Interests 🇺🇸.
On May 8, 2025, the GENIUS Act (legislation aimed at regulating the stablecoin market at the federal level) was blocked in the US Senate after several Democratic members withdrew.
👇 What Happened in Detail:
⚖️ What is the GENIUS Act? ‼️
⚫️ The bill was supposed to set general rules for the issuance and trading of stablecoins like $USDC and $USDT.
⚫️ It includes regulation of reserve assets, transparency, and oversight of issuers.
⚫️ It is a priority for the Trump administration as part of its plan to "revitalize the digital financial system."
❗ Why was it blocked?
⚫️ Democrats accused the bill of lacking adequate consumer protections.
⚫️But the most important reason: Concerns about a conflict of interest with President Trump himself, especially after:
⬅️His public involvement in promoting a new stablecoin called $USD1.
⬅️Reports of a massive $2 billion deal involving @binance and companies linked to his family.
📉 What does this mean👇
⬅️The project's suspension delays the establishment of a formal regulatory framework at a time when stablecoins are increasingly used globally.
⬅️It demonstrates how politics and financial interests can intersect.
⬅️It complicates the legal landscape for institutions that were waiting for regulatory clarity before investing or expanding.
🧠 What's next?
⬅️A revised version of the project is expected to be resubmitted later this year, but under new committees and greater scrutiny.
⬅️It could open the door to a broader national debate about the "independence of stablecoins from political influence."