The proposed amendment would come after 18 Democrats sided with Republicans in the Senate in voting to advance the bill on May 20 after it failed a procedural vote on May 8.“Passing the GENIUS Act without our anti-corruption amendment stamps a Congressional seal of approval on Trump selling access and influence to the highest bidder,” Merkley said in a May 22 X post.
Critics have pointed out that the president could continue to personally benefit from legislation that helps recognize stablecoins like USD1 as financial instruments in the US. Related: US lawmaker introduces anti-corruption bill ahead of Trump’s dinnerAn Abu Dhabi-based investment firm said that it would use USD1 to settle a $2-billion investment in Binance, effectively allowing the president’s family to profit from the transaction fees.
Merkley is expected to attend a protest organized by the consumer advocacy group Public Citizen, in partnership with progressive political organization Our Revolution, outside the Trump venue on May 22. Warren held a press conference with Merkley, Senator Chris Murphy and Public Citizen representatives, calling on Trump to “release the guest list” for the dinner event.
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Author / Journalist: Cointelegraph by Turner Wright
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