Warren Urges Senate to Block Crypto Bill Over Trump Deal
Key Notes
- Backed by US Treasuries, USD1 will reportedly serve as the settlement currency for a $2 billion investment from Abu Dhabi-backed MGX.
- Warren has raised alarm about the GENIUS Act, which aims to establish a US regulatory framework for stablecoins.
- She alleges the bill could facilitate financial profiteering by Trump and his associates, labeling it as a move that “greenlights corruption”.
US Senator Elizabeth Warren has raised major red flags about Donald Trump’s association with the crypto industry and the recent $2 billion deal backed by the United Arab Emirates, calling it a pathway to huge corruption. As a result, she has urged the US Senate to stop the crypto legislation and the GENIUS Act, ahead of…
