US senators plan to revise GENIUS bill to prevent Trump family from profiting from stablecoins

According to Golden Finance, Senate Minority Leaders Chuck Schumer, Elizabeth Warren, and Jeff Merkley will propose amending the GENIUS Act to prevent the US President from profiting from stablecoins. Merkley said, "If we don't join the anti-corruption amendment, it's like Congress stamping Trump's influence on the highest bidder Trump and his three sons entered the World Liberty Financial (WLFI) platform, which launched the USD1 stablecoin in March. Critics point out that if relevant legislation recognizes USD1 as a financial instrument, the president may benefit from it. A Abu Dhabi based investment company plans to settle a $2 billion investment in Binance with USD1, allowing the Trump family to profit from transaction fees. Warren and other lawmakers also questioned his hosting of a private dinner for Meme cryptocurrency tycoons, stating that "tonight's private, secret dinner may be the most corrupt of all