#USStablecoinBill

The Stablecoin Bill in the United States (#USStablecoinBill), known as the GENIUS Act, is an attempt to establish a federal regulatory framework for stablecoins for the first time in the country. However, the bill is currently facing a severe political crisis that threatens its future.

What is happening?

Democratic Withdrawal: Nine Democratic senators who initially supported the bill have recently withdrawn their support.

Reasons for Withdrawal: Democrats say the revised version of the bill does not adequately address money laundering issues or risks to the financial system.

Political Controversy: There are reports that the bill could benefit a stablecoin company linked to former President Donald Trump, in a deal valued at two billion dollars. This connection has raised suspicions and prompted Democrats to reconsider.

Why is this bill important?

Stablecoins are widely used in the digital currency world because they tie their value to a traditional currency (like the dollar), making them more stable.

The absence of a clear federal regulation creates a legal void that could lead to economic and security risks.

What to expect?

The bill may stall or be disrupted if the disagreement between the parties continues.

The outcome will significantly affect the future of digital currency regulation in America and may also have global implications due to the dollar's status.