#USStablecoinBill

#USStablecoinBill

Update on US Senate’s Stablecoin Regulation

$BTC

Back in mid-March, the US Senate took a big step towards regulating stablecoins when the Genius Act passed through the Banking Committee with an 18-6 vote. Interestingly, five Democrats supported it, but nine others from the same party who are usually pro-crypto opposed the current draft. Their main concerns? A lack of strong rules on anti-money laundering and national security.

$ETH

Now here’s the catch—moving forward needs 60 votes, so Democrat backing is a must. But with the current disagreements, that support looks shaky. To make things even more complicated, there’s buzz around Trump-linked crypto efforts, like World Liberty Financial's plans to launch a stablecoin. This has drawn criticism from lawmakers, especially Senator Elizabeth Warren.

$BNB

So, for now, stablecoin regulation in the US remains in a grey area. More changes to the bill are expected as the debate continues.