The U.S. Senate is close to passing the bipartisan GENIUS Actâa landmark move to regulate stable coins. The bill would require issuers to back tokens with liquid reserves and comply with AML and counter-terrorism finance standards. It also introduces legal protections for holders in bankruptcy scenarios. However, the act faces pushback over a clause allowing tech giants like Meta to issue stable coins, raising concerns around conflicts of interestâespecially due to ties between World Liberty Financial and the Trump family.
đ° Crypto Market Insights â May 17, 2025 đ U.S. Senate Pushes Forward on Stable coin Regulation
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