#USStablecoinBill he US Stablecoin Bill, also known as the Genius Act, is currently under consideration in the US Senate. Here's the latest update¹:

- *Current Status*: The bill has been passed by the Senate Banking Committee with an 18 to 6 vote and is awaiting a full Senate vote.

- *Democrat Support*: However, some Democrats have expressed concerns over the bill's current form, citing the need for stronger provisions on anti-money laundering, national security, and financial system safety. Nine pro-crypto Democrats have stated they cannot support the bill without these changes.

- *Republican Support*: Senate Majority Leader John Thune has proposed a vote on the bill, but Republican senators may need Democratic support to reach the 60 votes required for cloture.

- *Controversy*: The bill's progress has been complicated by the Trump family's involvement in stablecoin projects, including World Liberty Financial's USD1 stablecoin. Some lawmakers have raised concerns about potential corruption and the need for stricter regulations.

*Key Issues:*

- *Anti-Money Laundering*: Democrats are pushing for stronger provisions to prevent money laundering and ensure national security.

- *Foreign Issuers*: There are concerns about foreign issuers of stablecoins and their potential impact on the US financial system.

- *Financial System Safety*: Lawmakers want to ensure the stability and soundness of the financial system.

*Potential Impact*: The bill's passage could provide regulatory clarity for stablecoin issuers in the US, but its current form has raised concerns among lawmakers and industry stakeholders.