The Watch Sexy Urban Legends episode 9 season 1 (2001)crypto 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
Best robot vacuum deal: Get the Roborock Q5 Max for 53% off at Amazon
Pakistan vs. Bangladesh 2025 livestream: Watch 1st T20 for free
Best tablet deal: Save $130 on the Samsung Galaxy Tab S6 Lite at Amazon
Best Amazon Fire TV Cube deal: Save $40 at Amazon
Best robot vacuum deal: Eufy Omni C20 robot vacuum and mop at record
How AI is locating an endangered bird species missing for over a decade
What’s going on at Victoria’s Secret? Security incident shuts down site.
DMV text scams are on the rise in some states
Bomb Envy
Our favorite Anker products are all on sale at Amazon
Is it 'Thunderbolts*' or *The New Avengers'?
Tesla sales in Europe are still plummeting, despite Model Y refresh
Anker UFO 3
PlayStation's Days of Play is live — Get a PS5 'Call of Duty' bundle for just $400
No Time for a Negative Peace
120 court cases have been caught with AI hallucinations, according to new database
120 court cases have been caught with AI hallucinations, according to new database
PlayStation 5 Pro is $50 off for Days of Play 2025
NYT Connections Sports Edition hints and answers for May 18: Tips to solve Connections #237
Shop Popsocket's new Kick
Better Than Your Name in Lights? Your Name in Appliqué.'Wheel of Fortune' contestants repeatedly stumble with a wildly simple answerHow to watch ICC Cricket World Cup: key dates, streaming services, VPN deals, and moreShould I go to a sex therapist?Pixel 8 Pro vs. Pixel 7 Pro: What are the differences?Where the Mets Meet Mark Twain: A Perilously Catchy ChantWatch the 1972 Movie of “Play It As It Lays” in FullRobert “Romeo” Coates, History’s Best Worst'Our Flag Means Death' Season 2: Gayer and darker pirates tales aheadMoebius and the Key of Dreams: On Jean Giraud's Astonishing MultiverseNetflix plans to increases prices after actors' strike, report saysOn Robert Aickman’s “Ringing the Changes”The Captain’s DollInfamous domain Loser.com redirects to Russian President Putin's Wikipedia page'Our Flag Means Death' Season 2: Gayer and darker pirates tales aheadFinding calm with TikTok's singing bowl meditationsLuck Be a Lady: Remembering Lady Met, Mrs. Met’s PredecessorPixel 8 Pro vs. iPhone 15 Pro: Comparing specs, price, camerasWomen in Crime: An Interview with Sarah WeinmanInfamous domain Loser.com redirects to Russian President Putin's Wikipedia page Best GPU deal: Get the ASUS RTX 5090 for $1,999.99 at Best Buy Minnesota Timberwolves vs. Phoenix Suns 2025 livestream: Watch NBA online 'Squid Game' Season 3 officially has a release date. It's sooner than you think. Best streaming deal: Get YouTube TV for $69.99 per month for 6 months Best headphones deal: Save 43% on the Souncore V20i headphones at Amazon DeepSeek R1: Why AI experts think it's so special Best Amazon deal: Save 20% on floral and botanical Lego sets Best Hisense TV deal: Save $1,200 on QD7 QLED 4K UHD Smart TV at Best Buy Will Microsoft buy TikTok? Trump says talks are happening. 'Sing Sing' review: Colman Domingo delivers in prison Every new Apple product known or rumored for 2025 Best TCL QLED TV deal: Save $2,000 on 98 Cleveland Cavaliers vs. Miami Heat 2025 livestream: Watch NBA online NYT Connections hints and answers for January 30: Tips to solve 'Connections' #599. The 'Office' quote that defined Kevin Malone, according to the actor himself Best Lego Botanicals deal: Save $12 on Bouquet of Roses for Valentine's Day Best home security deal: The Google Nest Video Doorbell is $40 off Sacramento Kings vs. Philadelphia 76ers 2025 livestream: Watch NBA online Oklahoma City Thunder vs. Golden State Warriors 2025 livestream: Watch NBA online NASA spotted a big asteroid that may hit Earth — what you should know
2.6628s , 8222.7890625 kb
Copyright © 2025 Powered by 【Watch Sexy Urban Legends episode 9 season 1 (2001)】,Wisdom Convergence Information Network