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Stablecoin Bill Collapses Amid Political Controversy Over Trump-Linked Crypto
Stablecoin Bill Collapses Amid Political Controversy Over Trump-Linked Crypto
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The GENIUS Act, a bipartisan stablecoin regulation bill, has stalled in the U.S. Senate following Democratic withdrawal. Legislators cited concerns about Donald Trump’s alleged influence through World Liberty Financial’s USD1 stablecoin. Senator Elizabeth Warren led opposition, warning of insufficient safeguards against money laundering and foreign interference.
Republicans dismissed the objections as politically motivated. The bill’s failure leaves stablecoin regulation in limbo, highlighting how cryptocurrency policy is increasingly entangled in partisan battles. Stablecoins—digital assets pegged to traditional currencies—remain a focal point for financial innovation and regulatory scrutiny.
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