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Gate Square New & Returning Creator Rewards are ongoing!
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U.S. Senator plans to amend the GENIUS Act to prevent the Trump family from profiting from stablecoins.
[U.S. Senators Propose Amendments to the GENIUS Act to Prevent the Trump Family from Profiting from Stablecoins] U.S. Senate Minority Leader Chuck Schumer, Elizabeth Warren, and Jeff Merkley will propose amendments to the “U.S. Stablecoin National Innovation and Establishment Act” (GENIUS Act) to prevent the U.S. President from profiting from stablecoins. Merkley stated: “Without including anti-corruption amendments, it is equivalent to Congress endorsing Trump to sell influence to the highest bidder.” Trump and his three sons are involved with the World Liberty Financial (WLFI) platform, which launched the USD1 stablecoin in March. Critics point out that if related legislation recognizes USD1 as a financial instrument, the President may benefit from it.