US GENIUS Act Related to Stablecoins Opposed by 10 Senators
ChainCatcher reports that, according to Eleanor Terrett, Senator Ruben Gallego and nine other senators issued a joint statement expressing their inability to support the updated version of the GENIUS Act released last week. The group pointed out several issues, including insufficient anti-money laundering provisions, and concerns about national security and the safety of the financial system.
Notably, four Democratic senators on the list, Gallego, Warner, Kim, and Blunt Rochester, supported the original version of the bill during the Banking Committee review in March. The bill's co-sponsor, Angela Alsobrooks, did not sign the letter.
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