US Stablecoin Bill May Pass on May 26, Provisions Targeting Trump Family Removed

The U.S. Senate plans to pass the "Guidance and Establishment of National Innovation Stablecoin Act" (GENIUS Act) as early as May 26, which aims to establish a federal regulatory framework for stablecoins. Previously, Democrats blocked its progress on May 8 due to concerns that the bill might benefit former President Trump and his family from crypto projects. To reach a consensus, the bill has removed the clauses related to the Trump family.