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Warren warns against stablecoin bill ahead of floor vote

  • Senator Elizabeth Warren opposed the GENIUS Act, a stablecoin regulation bill advancing in the Senate on May 19, 2025.
  • Warren criticized the bill for enabling President Donald Trump to regulate his own USD1 stablecoin, raising corruption concerns.
  • The GENIUS Act would create the first official US framework for stablecoins, integrating them into the traditional financial system with bipartisan support.
  • Warren warned the bill could trigger a financial meltdown like the 2008 crisis or 2022 crypto crash, saying it would “accelerate Trump’s corruption.”
  • Opponents including investor Kevin O'Leary argue the act modernizes payments and that politicizing it may hinder US financial innovation and global leadership.
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TokenPost broke the news in on Monday, May 19, 2025.
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