#USStablecoinBill

#USStablecoinBill Update on Senate Stablecoin Regulation

In mid-March, the U.S. Senate's Genius Act aimed at regulating stablecoins was adopted 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 inadequate provisions on anti-money laundering and national security. Cloture requires 60 votes, which necessitates support from the Democrats, which could be compromised. Additionally, crypto activities associated with Trump, including stablecoin projects by World Liberty Financial, complicate the situation, attracting criticism from lawmakers such as Senator Warren.