Senate Crypto Bill Stalls Amid Trump's $2B Stablecoin Deal

Senate Crypto Bill Stalls Amid Trump's $2B Stablecoin Deal

Efforts to pass the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in the U.S. Senate are faltering amid intensifying scrutiny over a $2 billion crypto deal involving former President Donald Trump and a UAE-backed investment firm. On May 5, Senators Elizabeth Warren and Jeff Merkley demanded an ethics investigation into the Trump family’s involvement in a transaction with MGX, a state-funded firm from the Unite...

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