#USStablecoinBill Regulatory Clarity or Political Crossfire?

The United States Senate is advancing the GENIUS Act, aimed at establishing the first federal framework for stablecoins—mandating 1:1 backing, oversight from the Federal Reserve for large issuers, and banning algorithmic coins. However, recent political tensions have emerged. Nine Democratic senators have withdrawn their support, citing concerns about money laundering and financial risks. Additionally, ethical questions have arisen due to the involvement of former President Trump's family in a stablecoin venture.