Senators Target Trump’s Crypto Ties in GENIUS Act Amendment

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2025-05-23 14:00:01

Democratic senators are mobilizing to prevent former President Donald Trump from capitalizing on stablecoin markets. Senate Minority Leader Chuck Schumer, alongside Senators Jeff Merkley and Elizabeth Warren, will propose an amendment to the GENIUS Act that bars U.S. presidents and officials from profiting off cryptocurrency ventures.

The legislative push follows the Guiding and Establishing National Innovation for US Stablecoins Act’s procedural breakthrough on May 20. Earlier stalling had cast doubt on the bill’s viability. Senator Mark Warner, a central negotiator, insists Democratic support remains crucial for the legislation’s passage.

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