#USStablecoinBill Update on Senate Stablecoin Regulation

In mid-March, the U.S. Senate's Genius Act to regulate stablecoins was passed by the Banking Committee with a vote of 18 to 6, including support from five Democrats. However, nine pro-crypto Democrats expressed their opposition to the current version, citing insufficient provisions on anti-money laundering and national security. Cloture requires 60 votes, which necessitates support from Democrats, potentially jeopardizing it. Additionally, crypto activities affiliated with Trump, including stablecoin projects by World Liberty Financial, complicate the situation, drawing criticism from lawmakers like Senator Warren.