Democrats had cited concerns over provisions related to foreign issuers, anti-money laundering standards, potential corporate issuance of stablecoins, and Trump’s deepening ties to crypto ventures, including one that recently launched a stablecoin
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US Senate votes to move forward with GENIUS Act as stablecoin legislation picks up speed
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Genius Act requires stablecoin issuers to must comply with anti-money laundering (AML) standards, including customer due diligence and suspicious activity reporting
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