From Cointelegraph

May 22, 2025 5:33:00 pm:

A bill to regulate payment stablecoins in the US Senate faces a potential amendment to prevent President Trump from profiting from stablecoins. Democrats plan to file an amendment to the GENIUS Act after 18 Democrats supported advancing the bill. Critics highlight Trump and his sons’ involvement in the USD1 stablecoin platform World Liberty Financial.

An investment firm in Abu Dhabi will use USD1 to settle a $2 billion investment in Binance, leading to concerns of profit for Trump’s family from transaction fees. Democratic lawmakers call for an investigation into Trump’s ties to the platform. Stablecoins are just one of many potential conflicts identified by Democrats.

Trump hosts a dinner for memecoin buyers, prompting responses from Democrats. Protest planned outside the dinner venue by Senator Merkley and consumer advocacy groups. Senator Warren holds a press conference calling for transparency in guest list. Concerns raised about potential national security concessions in exchange for payment to meet with the President.

Read more at Coin Telegraph: Senators plan to amend GENIUS Act to address Trump family’s stablecoin