{"id":126232,"date":"2025-04-01T11:15:57","date_gmt":"2025-04-01T11:15:57","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126232"},"modified":"2025-04-01T11:15:57","modified_gmt":"2025-04-01T11:15:57","slug":"trump-linked-crypto-ventures-may-complicate-us-stablecoin-policy","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126232","title":{"rendered":"Trump-linked crypto ventures may complicate US stablecoin policy"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA US dollar-pegged stablecoin launched by a cryptocurrency platform tied to US President Donald Trump\u2019s family could complicate ongoing bipartisan efforts to pass stablecoin legislation in Congress, raising concerns about potential conflicts of interest.<br \/>\nThe Trump-linked World Liberty Financial (WLFI) crypto platform launched the World Liberty Financial USD (USD1) US dollar-pegged stablecoin in early March, prompting concerns over potential conflicts of interest.<br \/>\nDespite political pushback from Democratic Party lawmakers, WLFI\u2019s stablecoin plans are in line with the current US stablecoin legislation, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.<br \/>\n\u201cThe planned backing, audits, qualified custody, public blockchains and no native yield-bearing \u2014 all these elements are well in line with the GENIUS and STABLE acts,\u201d she said in an interview with Cointelegraph.<br \/>\n\u201cI would argue that this is a direct expression of support to the US-based stablecoins, and in any case, the stablecoin issuer is subject to the authorization of OCC, state regulators and the Board of Governors of the Federal Reserve,\u201d she added.<br \/>\nRelated: Stablecoins, tokenized assets gain as Trump tariffs loom<br \/>\nThe launch comes as two major stablecoin bills move through Congress.<br \/>\nThe STABLE Act, introduced on Feb. 6, aims to create a clear regulatory framework for dollar-denominated payment stablecoins. It focuses on transparency and consumer protection and enables issuers to choose between federal and state oversight.<br \/>\nSource: STABLE ActThe GENIUS Act, short for Guiding and Establishing National Innovation for US Stablecoins, would establish collateralization guidelines for stablecoin issuers while requiring full compliance with Anti-Money Laundering laws. The act recently passed the Senate Banking Committee by a vote of 18\u20136.<br \/>\nRelated: Trump turned crypto from \u2018oppressed industry\u2019 to \u2018centerpiece\u2019 of US strategy<br \/>\nTrump\u2019s USD1 stablecoin is \u201cthrowing a wrench into bipartisan efforts\u201d<br \/>\nWhile some see WLFI\u2019s stablecoin as a positive signal for crypto adoption, others fear it may complicate the passage of current legislation, politicizing it in the process.<br \/>\n\u201cTrump\u2019s new US dollar-pegged stablecoin, USD1, is throwing a wrench into bipartisan efforts to pass stablecoin legislation, possibly something like the GENIUS Act,\u201d according to Dmitrij Radin, the founder of Zekret and chief technology officer of Fideum.<br \/>\n\u201cWith the Trump family holding a major stake and revenue share, critics like Senator [Elizabeth] Warren and Representative [Jim] Himes are calling out potential conflicts of interest,\u201d Radin told Cointelegraph, adding:<br \/>\n\u201cThe concern would be that any law could be seen as financially benefiting Trump, making some lawmakers hesitant. While the bill could still pass, this twist might delay it or force stricter rules to keep it neutral.\u201d<br \/>\nWhile stablecoins appear ready for mainstream adoption, \u201cpolitical drama\u201d may push innovation offshore if regulators become overly restrictive, Radin said, adding that banks and the Federal Reserve are still \u201cpushing back\u201d against stablecoin adoption.<br \/>\nMeanwhile, crypto industry professionals have urged US lawmakers to create more regulatory clarity around stablecoins and crypto banking relationships before legislators switch their focus to crypto tax laws.<br \/>\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unanswered<a href=\"https:\/\/cointelegraph.com\/news\/trump-crypto-ventures-complicate-us-stablecoin-policy?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA US dollar-pegged stablecoin launched by a cryptocurrency platform tied to US President Donald Trump\u2019s family could complicate ongoing bipartisan efforts to pass stablecoin legislation in Congress, raising&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126232"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126232"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126232\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}