TechFlow, May 23 — According to Cointelegraph, although a majority of U.S. senators voted on May 20 to pass the GENIUS Act—a bill regulating payment stablecoins—top Democratic leaders are planning to introduce amendments to address President Trump's ties with the cryptocurrency industry.
Senate Minority Leader Chuck Schumer, along with Senators Elizabeth Warren and Jeff Merkley, will submit an amendment to the Guidance and Establishment of National Innovation with Stablecoins Act (shortened to the GENIUS Act) aimed at preventing the U.S. president from profiting off stablecoins.
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