ThanTaiCrypto
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President Trump pushes for Stablecoin legislation ahead of the August recess.
President Donald Trump is advocating for the passage of two key cryptocurrency bills before Congress's summer recess in August 2025:
1. STABLE Act: Proposes a legal framework for the issuance and trading of USD-backed stablecoins.
2. GENIUS Act: Focuses on the structure of the digital asset market, including licensing requirements, reserve transparency, and prioritizing consumer rights in the event of bankruptcy.
Bo Hines, Director of the President's Advisory Council on Digital Assets, stated at the Consensus 2025 conference that negotiations are progressing and he is confident the bills will be signed before the August recess.
However, the legislative process faces several challenges:
• On May 8, the Senate failed to pass the GENIUS Act due to a lack of necessary votes, primarily due to concerns about money laundering, oversight of foreign issuers, and conflicts of interest related to the Trump family's crypto projects.
• Democratic lawmakers, such as Senator Elizabeth Warren, have criticized the bill for lacking consumer protections and the potential to facilitate political corruption.
Despite these obstacles, the White House remains determined to push these bills forward to affirm the United States' leadership position in the digital finance space.
The God of Crypto.
President Donald Trump is advocating for the passage of two key cryptocurrency bills before Congress's summer recess in August 2025:
1. STABLE Act: Proposes a legal framework for the issuance and trading of USD-backed stablecoins.
2. GENIUS Act: Focuses on the structure of the digital asset market, including licensing requirements, reserve transparency, and prioritizing consumer rights in the event of bankruptcy.
Bo Hines, Director of the President's Advisory Council on Digital Assets, stated at the Consensus 2025 conference that negotiations are progressing and he is confident the bills will be signed before the August recess.
However, the legislative process faces several challenges:
• On May 8, the Senate failed to pass the GENIUS Act due to a lack of necessary votes, primarily due to concerns about money laundering, oversight of foreign issuers, and conflicts of interest related to the Trump family's crypto projects.
• Democratic lawmakers, such as Senator Elizabeth Warren, have criticized the bill for lacking consumer protections and the potential to facilitate political corruption.
Despite these obstacles, the White House remains determined to push these bills forward to affirm the United States' leadership position in the digital finance space.
The God of Crypto.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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