#GENIUSActPass

🚨 Breaking News 🚨

The GENIUS Act initially failed a cloture vote in the Senate in May in response to Democratic opposition to US President Donald Trump’s connections to the cryptocurrency industry. The Trump family has a significant stake in World Liberty Financial, which issued its own USD1 stablecoin in March. 

It’s unclear whether the stablecoin legislation will have enough support to pass in the House, where Republicans also hold a slim majority over Democrats. Trump’s AI and crypto czar, David Sacks, suggested in May that the president would support the bill passed by a Republican-controlled Congress.