
Phyrex|Jun 18, 2025 04:15
Indeed, there are exemptions for the President, Vice President, and their families in this stablecoin bill. One reason for this is that the US Constitution sets different standards for the exercise of presidential power and ethics than for members of Congress. In addition, compared to the issue of the President, both parties are more inclined to prioritize the management of stablecoins. In this regard, the two parties are in agreement, which is why progress has been so rapid.
However, this time it is mainly in the Senate, and it cannot be ruled out that the House of Representatives may adjust the bill. The biggest contradiction in almost all opposition voices now is that the president can issue stablecoins, and it has actually been issued.
Although this bill has accelerated the development of the stablecoin market, it has fueled presidential corruption, undermined national security, financial stability, and consumer protection, and is even worse than no bill at all, "Democratic Senator Elizabeth Warren said in her Senate speech in May.
In the process of advancing these bills, lawmakers have given up the opportunity to expose Trump's cryptocurrency scam, which is the largest and most blatant corruption in presidential history, "said Bartlett Neller, a financial policy advocate for the consumer rights advocacy group Public Citizen.
However, for the cryptocurrency field, who issued it is not the key, whether it can be accepted smoothly is the most important. Currently, USD1 is managed by BitGo Trust Company, and institutions such as Fidelity are responsible for holding and managing reserve assets on a daily basis.