Senate Votes on GENIUS Act: Will It Legalize Trump’s Crypto Empire?

The U.S. Senate prepares to vote on the landmark GENIUS Act, a bill aiming to regulate stablecoins for the first time. But the decision has sparked controversy due to President Trump’s deep financial ties to his family’s crypto firm, World Liberty Financial, and its recent launch of USD1, a dollar-backed stablecoin linked to U.S. Treasuries. Critics argue this could bolster stablecoin adoption while entrenching financial mechanisms that personally benefit the sitting president.