Senate Democrats are expressing significant concerns over a cryptocurrency bill, the GENIUS Act, which they fear may benefit the Trump family's business interests. During a recent meeting, concerns were raised about how the legislation could directly support the Trump-affiliated World Liberty Financial, particularly in light of its $2 billion deal with an Emirati fund. Prominent figures like Senator Chuck Schumer and Senator Jeff Merkley have criticized the situation, describing it as a serious conflict of interest and a form of corruption. Initially projected to pass, the legislation's future now hangs in the balance as Democrats seek amendments.
Senator Jeff Merkley, Democrat of Oregon, announced that the legislation would lead to a massive form of corruption concerning the Trump family's dealings in cryptocurrency.
Senate Democrats voiced concerns over the GENIUS Act, particularly how it could benefit the Trump family's crypto business, World Liberty Financial, potentially showcasing conflict of interest.
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