Democrats Propose Amendments to U.S. Stablecoin Regulation Bill

According to BlockBeats, despite the U.S. Senate's majority approval of the GENIUS Act on May 20, which aims to regulate payment stablecoins, Democratic leaders are planning amendments to address concerns about U.S. President Donald Trump's connections to the cryptocurrency industry. Senate Minority Leader Chuck Schumer, along with Senators Elizabeth Warren and Jeff Merkley, intend to introduce an amendment to the Guiding and Establishing National Innovation in U.S. Stablecoins Act (GENIUS Act). This amendment seeks to prevent the U.S. President from profiting from stablecoins.