#GENIUSActPass Senator Elizabeth Warren from the state of Massachusetts criticized the Genius Bill regulating stablecoins for needing immediate fixing with amendments and not involving personal interests.

According to Warren, the rules allow billionaires like Elon Musk and Jeff Bezos to track other people's spending, as well as suppress competitors.

"If Congress does not fix the GENIUS Act, billionaires like Elon Musk and Jeff Bezos could launch stablecoins that track your purchases, exploit data, and suppress competitors," wrote Warren on her X page.