🚨🇺🇸U.S. GENIUS Act Amendment Curbs Big Tech #Stablecoin Ambitions
🔹New bipartisan amendment bans non-financial public firms (e.g., Meta, Amazon) from issuing stablecoins
🔹Prohibits deceptive FDIC/government backing claims and misleading names
🔹Enhances enforcement powers, expands ethics rules (including on Elon Musk)
🔹Aligns with Trump’s “America First” stance on financial sovereignty