Trump’s Push for Stablecoin Law Hits Setback Amid Ethics Concerns
The post Trump’s Push for Stablecoin Law Hits Setback Amid Ethics Concerns appeared on BitcoinEthereumNews.com.
Regulations A major push by U.S. President Donald Trump to pass stablecoin regulation hit turbulence on Tuesday, as the House of Representatives failed to advance the legislative package despite Trump declaring it “Crypto Week.” The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act was the centerpiece of the push, part of a trio of crypto bills backed by Republican leadership. Trump had publicly called on GOP lawmakers to support the measure, but internal party dissent stalled the process during a procedural vote. While the Senate passed the GENIUS Act in June, its progress in the House remains uncertain. Speaker Mike Johnson signaled that another vote may be attempted later in the week. At the center of the controversy is Trump’s involvement in World Liberty Financial (WLF), a crypto firm linked to the development of the USD1 stablecoin. The token was reportedly created in part by Binance and played a role in a $2 billion investment deal from Abu Dhabi. Critics argue this raises ethical and security concerns, as Trump could benefit from legislation he’s actively promoting. Representative Maxine Waters’ office condemned the situation, warning that foreign funding tied to the president represents a dangerous conflict of interest. In response, Democrats have launched a counter-campaign dubbed “anti-crypto corruption week,” pushing for reforms to limit crypto holdings among top officials. As debate intensifies, the fate of Trump’s crypto agenda remains in limbo — with both policy and personal financial entanglements under a growing spotlight. Author Kosta Gushterov Reporter at Coindoo Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
…
Filed under: News - @ July 15, 2025 10:30 pm