From Cointelegraph
April 1, 2025 06:52 am:

A US dollar-pegged stablecoin tied to Trump’s family complicates bipartisan stablecoin legislation efforts in Congress. The World Liberty Financial USD (USD1) stablecoin launch raises concerns about potential conflicts of interest. Despite pushback, the stablecoin plans align with current US legislation, according to blockchain regulatory firm Fideum’s CEO Anastasija Plotnikova.

Two major stablecoin bills are moving through Congress. The STABLE Act focuses on regulatory transparency and consumer protection, allowing issuers to choose federal or state oversight. The GENIUS Act requires collateralization guidelines and full compliance with Anti-Money Laundering laws for stablecoin issuers. It recently passed the Senate Banking Committee.

Trump’s USD1 stablecoin is causing concern for bipartisan efforts to pass stablecoin legislation. Critics worry about potential conflicts of interest due to the Trump family’s involvement. Some lawmakers may hesitate to support legislation that financially benefits Trump, potentially delaying or altering the bill. Industry professionals urge regulatory clarity for stablecoins before legislators focus on crypto tax laws.

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