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US Senator Elizabeth Warren has slammed the Trump administration and the recently passed crypto bill focusing on stablecoin regulation, arguing that the American people will pay the price for “industry-designed” legislation.
US Lawmakers Must Get Legislation Right
In a Vanity Fair interview, Democratic Senator Elizabeth Warren criticized the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law by President Donald Trump a week ago during the House of Representatives’ “Crypto Week.”
Introduced in February by Republican Senator Bill Hagerty, the GENIUS Act establishes a framework that will allow stablecoins to fall under the Federal Reserve Rules, creating a “safe and pro-growth” regulatory structure to advance the
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