Democratic senators plan to amend GENIUS law to prevent Trump family from profiting from it

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On May 23, according to Axios, despite the majority of U.S. senators voting to pass the GENIUS bill regulating stablecoins on May 20, top Democrats are planning to propose amendments to the bill to address former President Trump's connections to the cryptocurrency industry.

Senate Minority Leader Chuck Schumer, Senator Elizabeth Warren, and Senator Jeff Merkley will submit an amendment to the "Guiding and Establishing National Innovations for Stablecoins" (GENIUS) bill to prevent the U.S. president from profiting from stablecoins.

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