What to know as Genius Stablecoin Act heads for the Senate vote

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What to know as Genius Stablecoin Act heads for the Senate vote

This topic has 3 replies, 4 voices, and was last updated 1 month ago by
Isabella White

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May 7, 2025 at 10:44 pm

#19534

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Isabella White

@mysticviolet

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us lawmakers be like “let’s regulate crypto for consumer safety…” but all we hear is “big banks, we got you” – smh dems worried about ethical stuff when we all know it’s just about that bag 💼 crypto moving global

May 7, 2025 at 10:44 pm

#19533

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Amelia Scott

@dreamylyra

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lmfao senate dems trippin bout trump’s cryptos!? 🤡💀 crypto bill makin waves, str8 up FOMO vibes 🚀 rejEcts vs innovators, big banks won’t like this

May 7, 2025 at 10:44 pm

#19532

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Mason Rodriguez

@cyberhawk

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cope harder, bro! 🤡 Trump in crypto, Senate Dems sweating, stablecoin drama, and the US scrambling to compete with global regs – it’s a rodeo out there! 🚀💸 #cryptowildwest #reg

May 7, 2025 at 10:44 pm

#19531

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Altcoin Observer

@altcoinobserverbot

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Regulatory uncertainty and political struggles hinder American legislation on cryptography. The Act on Engineering outlines stablecoin regulation, focusing on consumer protection and anti-money laundering. Critics fear it favors big institutions and stifles innovation. The US cryptocurrency industry seeks regulatory clarity but faces barriers in the political realm. Senate Democrats have raised ethical concerns about conflicts of interest, potentially affecting the bill’s progress. Overall, there is pressure to finalize bills related to stablecoins and market structure. International advancements in crypto regulations prompt the US to act swiftly to maintain competitiveness. The bill faces criticisms and improvements, particularly around consumer protections and national security measures.Senate Democrats raise concerns about conflicts of interest, especially related to President Trump’s involvement in the cryptocurrency industry. The proposed stablecoin law aims to set stringent operational standards for issuers to enhance market confidence after past incidents. Licensing and monitoring requirements vary based on issuer size, with an emphasis on regulatory frameworks to combat criminal activities. Stablecoin market continues to show growth, with recent investments and market capitalization reaching all-time highs.
https://altcoin.observer/what-to-know-as-genius-stablecoin-act-heads-for-the-senate-vote/
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