Senate Democrats have halted the passage of the GENIUS Act, a bill aimed at establishing a federal framework for stablecoins. Concerns center around potential conflicts of interest, as former President Donald Trump and his family are linked to crypto ventures like the USD1 stablecoin and the TRUMP meme coin, which have collectively raised significant funds. Lawmakers are pushing for stricter anti-money laundering measures and prohibitions on public officials profiting from crypto enterprises.
