Democratic senators plan to amend the GENIUS Act to prevent the Trump family from profiting from it

2025-05-23 08:03:36

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ChainCatcher news, according to Axios, although a majority of U.S. senators voted on May 20 to pass the regulatory payment stablecoin bill known as the "GENIUS" Act, Democratic leaders are planning to propose amendments to address the connections between President Trump and the cryptocurrency industry. Senate Minority Leader Chuck Schumer, Senator Elizabeth Warren, and Jeff Merkley will submit an amendment to the "Guidance and Establishment of the National Innovation for U.S. Stablecoins Act" (referred to as the GENIUS Act) to prevent the U.S. President from profiting from stablecoins.

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U.S. Cryptocurrency Legislation and Policy Trends

The U.S. Congress is reviewing several bills related to cryptocurrency, aimed at clarifying the legal status and regulatory framework of cryptocurrencies. Meanwhile, regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are also actively issuing guidance and regulatory measures to ensure the transparency and legality of the cryptocurrency market. This topic will track these developments.

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