Stablecoin Bill Advances Despite Concerns Over Trump’s Ties to Industry
In a move that has raised eyebrows in some quarters, 16 Democratic senators joined most Republicans on Monday to advance a bill aimed at creating a regulatory framework for stablecoins, digital assets whose value is pegged to traditional currencies or commodities. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, despite reservations about its impact on the crypto industry's ties to President Donald Trump,...