The amendment to the GENIUS Act prohibits non-financial listed companies from issuing stablecoins and restricts the financial expansion of large technology companies

BlockBeats news, on May 15th, according to crypto journalist Eleanor Terrett, the latest bipartisan amendment to the GENIUS bill received by the US Senate strengthens key regulatory measures, explicitly prohibiting stablecoin issuers from falsely claiming to be covered by FDIC insurance or backed by US government credit, and prohibiting the use of related terms such as "US" and "US government" in stablecoin names to avoid consumer confusion. The most important is the restriction clause on tech giants. The amendment explicitly prohibits non-financial listed companies such as Meta, Amazon, Google, and Microsoft from issuing stablecoins unless they meet strict financial risk, consumer data privacy, and fair business conduct standards. This is consistent with Trump's "America First" vision, which aims to separate the banking industry from the monopolistic tendencies of Silicon Valley tech companies. The amendment also strengthens enforcement mechanisms, allowing the Ministry of Finance to suspend the registration qualifications of issuers in the event of reckless or intentional violations, and expands the ethical coverage of special government employees (including Elon Musk) to ensure consistent application of financial conflict of interest standards. In short, these adjustments have limited the financial expansion of large technology companies, but have added more cumbersome procedures. True reform requires market forces, not bureaucrats, to destroy vulnerable participants.