#GENIUSActPass Political disputes surrounding the GENIUS Act...
Despite support, the bill has sparked intense debate.
- Connection to Trump: Democrats, including Elizabeth Warren, criticize the potential use of cryptocurrencies for political manipulation. The launch of the USD1 stablecoin by World Liberty Financial raised suspicions about campaign financing.
- "Financial stability": Some senators fear that new rules will encourage market monopolization by large issuers.
- "Conflict of interest": The law does not have strict restrictions for officials regarding cryptocurrency ownership, which raises concerns.
- International impact: Stringent requirements for foreign issuers may limit their operations in the U.S.
Despite the criticism, supporters believe the law is an important step towards the legalization of cryptocurrencies. Will it change the game?