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Sen Elizabeth Warren has asked the Senate to delay the passage of a controversial digital asset bill, Warning of potential corruption The Trump is associated with the stabechoin project of the family.
Over the weekend, Warren urged MPs to reconsider running through the bill. He pointed to the involvement of the World Liberty Financial of the Trump family in a high-dot deal with the United Arab Emirates, which could have significant financial implications.
Warren wrote on Sunday on Sunday, “The Trump family became the 7th largest in Stabecrims world as a shady crypto deal with the United Arab Emirates – a foreign government that will give them a crazy amount,” Warren wrote on Sunday.
Warren called the Trump family Stabecrim’s participation in the $ 2B UAE deal
The Senator’s tweet attracted attention to the stabechoin of the family run by the World Liberty Financial, which recently drew great attention due to its relationship with the UAE’s massive investment in the project.
Trump family stabechoin is judged for dollars Emiti investment firm is associated with $ 2B deal with firm MGXThe firm supported by Abu Dhabi’s sovereign wealth fund Mubadala and AI firm G42 announced the use of stabeloin for its convenience. Bisexual investment,
The Genius Act faces Senate gridlock as Democrats push back against GOP modification
The situation has become even more complicated with the ongoing debate Talented actA historical piece of law that is aimed at establishing federal rules for stablecoins. The bill has become a flashpoint in the Senate, in which bilateral dialogue faces significant obstacles. Politico reported The nine leading Senate Democrats voiced the amendments unveiled by GOP MPs, making a road in the talks.
The bill wants to create the first regulator structure for stablecoins, and its path is a major priority in Trump’s financial policy agenda. However, Democrats have shown concerns that the revised proposal sufficiently fails to address issues such as money laundering and comprehensive risk for financial systems.
The Genius Act hits a nap as the two sides stay away from the agreement
These concerns have led to growing friction behind the curtain, some Democrats have retreated from their earlier support for the bill.
Meanwhile, Republican hopes that they can win enough democratic support to pursue the bill. GOP collaborative is optimistic that further modifications may address some concerns raised by Democrats, although the watch is expecting a floor vote by the end of the month.
Despite this, the ongoing dialogue indication is that it may take longer than anticipated to initially to reach the consensus on the issue.
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