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Democrats pressure a genius action due to Trump’s encryption relationships

The United States government is close to the age of its first legislation, and the law of guidance and construction of the national innovation of the American Stablecoins Law. However, Democratic lawmakers are pushing to include protection against corruption from public officials, especially President Donald Trump’s family.

According to a report From axios, a group of Senate members insists that the draft law must be amended to prevent Trump and members of the internal circle from taking advantage of Stablecoins and selling effect on the highest bidding.

Senate members press the amendment of the genius law

The genius law will create the first regulatory framework for Stablecoins in the American Senator Bill Hajari presented the bill in February, with joint sponsorship of Senator Kirsten Gilbrand and Sinthia Lomes.

If a year, the draft law will create a federal framework for licensing and supervising Stablecoins, which requires exporters to undergo regular security audits. The legislation will be determined by the Stablecoin version of the licensed entities and the prohibition of commercial assets that have not been fully supported.

Before the draft law was passed in the Senate earlier this week, Democrats raised concerns about possible conflicts with Trump’s encryption investments. Although they had previously withdrew their support, most of them, with the exception of the minority leader of the Senate Chuck Schumer, eventually voted yes.

Fears of Trump encryption projects

With a genius law a few steps away from the law, Democrats insist again to make amendments to include protection against corruption. Senator Jeff Merkeley, Elizabeth, Warren and Shomer are pressing to make amendment before the legislation passed to the Senate.

Senator Gary Peters, Jack Red, Chris Murphy and Michael Bennett participate in the amendment sponsorship. Although most of these legislators voted in favor of the bill, the familiar sources in the matter revealed that they may withdraw their support if the legislation lacks protection against corruption.

With the continued pressure for amendment, Senator Mark Warner, a democratic, insists on the draft law regardless of concerns about the Trump family. He said that the possibility of corruption should not be blind to the broader reality that Blockchain technology is present.

These concerns come at a time when World Liberty Financial (WLFI), World Liberty Financial (WLFI), new Stablecoinn, USD1. The original has already registered a deal to become the settlement currency of the MGX investment, which is based in Abu Dabi, in MGX $ 2 billion in Binance Crypto Exchange.

Meanwhile, senior Democratic lawmakers launched an investigation into the Trump encryption project due to fears of unlawful donations, abuse of political power and foreign influence.

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