The U.S. Senate plans to amend the GENIUS Act to restrict the Trump family from profiting through stablecoins.

After the majority of U.S. Senate members pushed for the legislation of the stablecoin bill GENIUS Act, Senate Minority Leader Chuck Schumer, along with Senators Elizabeth Warren and Jeff Merkley, plan to propose an amendment to prohibit former President Donald $Trump from profiting from stablecoin projects.

Earlier, the $Trump family project World Liberty Financial (WLFI) launched the USD1 stablecoin in March this year, which was used in a $2 billion investment settlement from an Abu Dhabi investment firm to Binance. This could potentially allow the $Trump family to profit from transaction fees. (Cointelegraph)