U.S. Senator Warren criticizes the stablecoin bill, urging the Treasury to guard against Trump-related risks.

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[U.S. Senator Warren Criticizes Stablecoin Bill, Urges Treasury to Guard Against Trump-Related Risks] Democratic Senator Elizabeth Warren of the U.S. Senate Banking Committee criticized the “U.S. Stablecoin Innovation and Protection Act” (GENIUS) signed by Trump in July this year, stating that its regulatory framework is lax, contains loopholes, and may threaten financial stability and consumer interests. In a letter to the Treasury, Warren called for measures to address conflicts of interest involving Trump and his family, combat illegal financial activities, and prevent stablecoin transactions from harming consumer interests. She mentioned Paxos' recent minting of $30 billion PYUSD incident, emphasizing that operational errors could pose significant risks, and suggested that Congress should address the deficiencies of the GENIUS Act when formulating broader crypto market regulations.

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