The Watch Up To And Including Her Limits Onlinecrypto industry is celebrating this week as a controversial stablecoin bill dubbed the GENIUS Act advanced to debate in front of the full U.S. Senate.
Earlier this month, an Abu Dhabi investment firm announcedthat it would be making a $2 billion investment in the cryptocurrency exchange Binance using a brand new stablecoin called USD1.
Unlike risky cryptocurrencies with prices that fluctuate wildly and constantly, stablecoins are basically crypto tokens pegged to a more stable asset, like fiat currency such as the U.S. dollar. Crypto companies behind stablecoins typically profit based on interest rather than speculation. According to Fortune, the crypto firm behind USD1, World Liberty Financial, could make around $80 million annually off of a deal like the Abu Dhabi one.
What makes this notable? For one, World Liberty Financial is majority owned by President Donald Trump and his family. Meanwhile, a first-of-its-kind stablecoin bill has just advanced in the Senate. And although some Democrats had hoped the bill would address this type of crypto profiteering from the Trump family, the bill is moving forward regardless.
On Monday, in a 66-32 vote, the U.S. Senate advancedthe GENIUS Act, a bill that sets up the first regulatory framework for stablecoins. In total, 16 Democrats joined the Republican majority to advance the bill. Two Republicans joined the opposing Democrats who voted against it.
Just two weeks ago, the stablecoin bill was shot down by every Democratic senator, which stalled the legislation from moving forward. However, an amendment was added to the bill in an effort to appease some Democrats.
That amendment included new consumer protections and regulatory limits on companies that issue stablecoins. In addition, the amendment also extended ethics standards to special government employees, which would cover Elon Musk and Trump's AI and crypto czar David Sacks, as long as they hold their special government roles.
However, notably absent from the bill is any language that could definitively end President Trump's own crypto and stablecoin dealings.
The bill does include language that would "prohibit any member of Congress or senior executive branch official from issuing a payment stablecoin product during their time in public service.” However, Democrats opposing the bill say that the language doesn't go far enough to address the Trump family's stablecoin endeavors.
Speaking from the Senate floor, Massachusetts Senator Elizabeth Warren said, “It doesn’t have to be this way. A bill that meaningfully strengthens oversight of the stablecoin market is worth enacting. A bill that turbocharges the stablecoin market, while facilitating the President’s corruption and undermining national security, financial stability, and consumer protection is worse than no bill at all.”
In addition to the new stablecoin investment, Trump's memecoin $TRUMP has nettedhis crypto companies hundreds of millions of dollars in fees. In addition, Trump has offered special access to investors in his memecoin. Memecoins are different from stablecoins and would not be covered under this bill.
While some Democrats will be offering additional legislation to cover Trump's stablecoin project, it's unlikely to pass the Republican-controlled Senate.
Topics Cryptocurrency Donald Trump Politics
The Best Gaming Concept Art of 2016
NYT Connections hints and answers for April 5: Tips to solve 'Connections' #664.
Best JBL deal: Save $50 on the Boombox 3 at Amazon
Metroid Prime 4 proves the Switch 2 Joy
Best Sony headphones deal: Over $100 off Sony XM5 headphones
NYT Strands hints, answers for April 6
Today's Hurdle hints and answers for April 7, 2025
Bayern Munich vs. Inter Milan 2025 livestream: Watch Champions League for free
SpaceX's Starlink will provide free satellite internet to families in Texas school district
NYT Connections hints and answers for April 4: Tips to solve 'Connections' #663.
How to Easily Make iPhone Ringtones Using Only iTunes
Microsoft celebrates 50 years with major Copilot announcements and new features
How to watch MLB: See every game your team plays
NYT Connections Sports Edition hints and answers for April 6: Tips to solve Connections #195
Big-League Bluster
Today's Hurdle hints and answers for April 6, 2025
NYT Connections Sports Edition hints and answers for April 5: Tips to solve Connections #194
‘Severance’ surprise pop
The Sound and the “Furious”
Yankees catcher Austin Wells goes viral with hilarious breakfast burrito reviews
From flashlights to light therapy masks: How 'Bodies Bodies Bodies' nails its lightingFrasier was Photoshopped into a bookstore on Google Maps, and it's perfectTwilio hack results in security issue for 1,900 Signal usersCat demonstrates clearly winning strategy to hide from the vetHow to change your new Gmail layout back to the old versionHappy Holidays, internet: Here are 5 hilarious seasonal cards to send your loved onesTwo magnificent galaxies are about to collide in deep spaceApple made Telegram remove an animated emoji feature in its iOS appSend your exes' worst texts to SheRateDogs and laugh through the painElon Musk sold $6.9 billion worth of Tesla sharesYes, there is an 'Aquaman' dildo you can buyThe internet just died over Michelle Obama's thighResearcher hacks into Elon Musk's Starlink system using $25 homemade deviceThe wildest internet challenges of 2018Wordle today: Here's the August 14 Wordle answer and hintsBelieve the hype: Weighted blankets have an online cult following for a reasonThe wildest internet challenges of 2018Twilio hack results in security issue for 1,900 Signal usersWordle today: Here's the August 11 Wordle answer and hintsTrump's border wall gets a GoFundMe campaign that's trying to raise $1 billion Tom Disch, “Donna Reed in the Old Scary House,” 1995 Pixel 8 vs. Pixel 8 Pro: What are the biggest differences? Thoreau Was No Misanthrope: Children Loved Him! NYT's The Mini crossword answers for October 5 Google Pixel 8, Pixel 8 Pro officially announced. Everything announced at Google Pixel event: Pixel 8 Pro, Pixel Watch 2, and more How to watch 'Haunted Mansion': Release date, streaming deals, and more Spicy air fryer nuts are a tasty snack and super easy to make A Bridge to the Past—Video of Virginia Woolf’s Husband Leonard Canva unveils Magic Studio, a suite of AI Netflix plans to increases prices after actors' strike, report says Pairing Artists with Corporations: Los Angeles in the Sixties 'Quordle' today: See each 'Quordle' answer and hints for October 5, 2023 Luck Be a Lady: Remembering Lady Met, Mrs. Met’s Predecessor Brick Lit: On Judy Corbett’s Memoir “Castles in the Air” Two Hundred Years Ago Today, Lord Byron Got Soused Gothic Horror and the Odd Appeal of “Melmoth the Wanderer” Reddit just made some big updates to its search function Wordle today: The answer and hints for October 5 On Robert Aickman’s “Ringing the Changes”
2.9663s , 10131.9921875 kb
Copyright © 2025 Powered by 【Watch Up To And Including Her Limits Online】,Creation Information Network