The US Congress is poised for another vote on the GENIUS Act, a bill that regulates stablecoins, following its narrow failure in the Senate with a 48 to 49 vote. Concerns have been raised from some Democratic lawmakers regarding former President Donald Trump’s potential conflicts of interest tied to the cryptocurrency industry. Despite calls for a pause on digital asset legislation linked to Trump, Republicans are pushing forward. Majority Leader John Thune has moved to reconsider the bill, but whether it can muster the necessary 60-vote majority to avoid a filibuster remains uncertain. The Trump family's involvement with World Liberty Financial and its stablecoin USD1 has heightened scrutiny, with concerns cited by Democratic representatives over perceived corruption within the administration. Key senators have urged Trump to divest from USD1 before engaging in foreign deals, while a report estimates his crypto holdings at $2.9 billion, encompassing 40% of his wealth.

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