The US Senate will hold a final vote on the stablecoin bill GENIUS, causing controversy over the Trump family's crypto connections
2025-06-16 22:02:52
The US Senate will hold a final vote on Tuesday on the GENIUS Act, which requires stablecoins to be fully backed by current assets such as the US dollar and prohibits non-financial companies such as Meta and Amazon from issuing stablecoins. The bill, which had previously raised concerns about the Trump family's crypto project, now includes provisions restricting the participation of government officials in the issuance. Although the Trump family's business is not directly covered by the bill, the related conflicts of interest still cause political divisions.
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