By PAUL O’DONOGHUE, Senior Correspondent
TRANSPARENCY International and Senate Democrats have warned that Donald Trump’s proposed GENIUS Act could enable financial crime.
The bill would establish a regulatory framework for stablecoins. These are cryptocurrencies tied to assets like the U.S. dollar. The Senate Banking Committee approved the bill in March with bipartisan support. However, many Democrats have since withdrawn their backing, citing concerns about Trump’s growing involvement in the crypto industry.
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