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The article discusses how Trump's team is focusing on stablecoins as a financial tool to gain an edge in the digital economy. It examines their potential benefits and the implications for both his campaign and the broader financial landscape.
The Senate passed the GENIUS Act, establishing federal regulations for U.S. dollar-pegged stablecoins and allowing private companies to issue digital dollars with government approval. While the bill faces challenges in the House, it represents a significant step for the crypto industry, which has heavily invested in pro-crypto lawmakers. Critics argue the legislation benefits President Trump's crypto ventures, as it does not prevent elected officials from profiting off digital assets.