GENIUS Stablecoin Bill Clears Senate But Trump’s Crypto Profits Loom Over Momentum
The U.S. Senate’s passage of the GENIUS Act marks a watershed moment for stablecoins, offering long-awaited regulatory clarity that could unlock trillions in institutional capital. Industry leaders hailed the bipartisan vote as a breakthrough for financial innovation, with fintechs and banks now poised to accelerate adoption.
Yet the legislation arrives under a cloud of controversy: President Donald Trump, expected to sign the bill, stands to benefit personally through World Liberty Financial, a firm his family owns that plans to launch a stablecoin called USD1.
Critics warn of a deepening conflict of interest as Trump’s administration simultaneously rolls back crypto enforcement while his financial ties to the sector grow. World Liberty Financial earned him over $57 million last year alone.
Still, industry leaders are choosing to concentrate on how stablecoins will revolutionize things like cross-border payments, 24/7 settlements, and global liquidity.
‘Hotly Awaited‘
“A federal stablecoin framework has been hotly awaited by the private financial sector, so it’s about time,” Alex Buelau, co-founder of Rayls, told Benzinga.
He noted that the lack of regulatory guidance has left fintechs, banks, and payment providers …
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