Analysis: The USD stability law is at risk of being suspended.

TinTucBitcoinOfficial · 2025-05-04T09:14:55+00:00

A group of Democratic senators opposes a Republican-backed stablecoin bill due to concerns over anti-money laundering, national security, and accountability, potentially impacting the cryptocurrency industry. The bill may need significant improvements to gain full support.

TinTucBitcoinOfficial

2025-05-04 09:14:55

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On May 4, nine Democratic senators who previously supported pro-cryptocurrency legislation declared their opposition to the stablecoin bill proposed by the Republican Party unless it is amended. They asserted that the bill is lacking in measures for anti-money laundering, national security, and accountability mechanisms. If improvements are not made, they will vote against it during the procedural vote.

This move could negatively impact the outlook through the Stablecoin Innovation and Establishment National Guidance Act (GENIUS ACT), driven by Republican Senator Bill Hagerty. The bill requires significant improvements before achieving broad support and could have widespread effects on the cryptocurrency industry.

Note: The content is for informational purposes only and is not investment advice.

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