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