The U.S. Senate passed the GENIUS Act regulating stablecoins with 68 votes in favor and 30 against. The bill will be sent to the House of Representatives for review. This legislation establishes a federal regulatory framework for stablecoins, requiring one-to-one reserves, consumer protections, and anti-money laundering mechanisms, but does not restrict the president and his family from profiting from stablecoin issuances, which has led to criticism from Democrats regarding potential conflicts of interest involving the Trump family. The Trump family's World Liberty Financial project made over $57 million in profits last year through token sales.