Senator Elizabeth Warren has criticized the management and creation of the US Stablecoin (Genius) Act, as Corruption Forces surrounding Trump's USD1 Stablecoin.
Warren asks the US Senate to reject a bill that both parties in the Congress previously supported.
A Post x -i, Warren mentioned what he described as a “shady cryptolic contract” between a company-related company and the United Arab Emirates between the Government of the United States, according to which he said he said important resources for the Trump family. According to Warren, the controversial agreement in Catapulti helped to make the world seventh largest stable.
The Genius Law, the Bilateral Effort, aimed at creating a federal stable regulatory framework, is faced with controlling intervention after revelations that Eric Trump and Zachary Witkoff founded in a cryptocurrency World Liberty Financial (WLFI) secured Abu Dhabi-Backed MGX Exchanges gets USD1.
Senator Warren has called the Genius “Grift”, claiming that it could allow Trump family members to benefit financially and Americans to turn to financial risks, consumer exploitation and national security risks.
He states that the current bill drafted does not contain enough protection against money laundering and does not protect the stability of foreign competitors from the possible abuse of the stability of foreign competitors.
He emphasized that the Senate should not be confirmed by a crypto bill that would allow such power to abuse this week.
Warren makes an unexpected U-turn of the Genius Law before the floor of the house
President Donald Trump's plan to implement the US has raised several unforeseen questions. An example of a recent There is a refusal to approve the Genius Act in the US Senator Elizabeth Warren.
Senator Warren pointed out mistakes in the bill because he was worried that when it passes, Trump's supported world Liberty Financial (WLF) will collect an illegal fortune. The senator was based on his case on WLF's last contract with the MGX of the United Arab Emirates to rely on the $ 2 billion Binance investment to finance $ 1 to StaStablein.
Later, the USD1 Stablein experienced the frantic daily trading volume and the increase in market capitalization due to the MGX agreement. Because of these claims, Elizabeth Warren called for the Senate to reject the Genius Act due to unfair enrichment of the Genius Act before the vote of the plenary. The Warren U-turns before the floor of the house has been voted on the Genius Act over the Genius Act.
In addition to Warren, ten US senators have taken back their support for the Genius Act because it does not have anti -money laundering and national security rules.
Interestingly, according to earlier statements by the Trump administration, the Genius Law was expected to overcome all legislative obstacles. However, David Sacks claimed that although the bill was predicted to receive the final consent in May, interest had since decreased.
The WLF supported by Trump is most affected by the most negative impact if the bill is not approved. According to reports, WLF postponed the centralized listed list, while the company waited for a regulatory explanation.
In addition, the delay may damage the USD1 options to beat the salmon in their competition as it is trying to reach the industry's first -class.
Senate's nine Democrats are against the Genius Act
The future of the bilateral Genius Act was questioned after the nine Senate Democrats were in the present form in publicly opposed to the bill just a few days before the planned occurrence on the Senate floor.
Among them were Ruben Gallego, Andy Kim, Lisa Blunt Rochester and Mark Warner, who were reported to be among the four senators who voted in March in favor of the Senate Banking Committee. However, this statement did not sign the signatures of the Kirsten Gillibrand and Angela alphabet of the sponsors 'sponsors' sponsors.
Said a group of a statement that current version The bill has “numerous questions” to address, including strengthening state security provisions, foreign ministers, anti -money laundering, preserving the safety and reliability of their financial system and keeping people who have been prosecuted.
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