Senators seek to curb presidential profits from cryptocurrencies
: the debate over the GENIUS Act and the Trump family's stablecoin

 Cryptocurrencies, politics, and power: the new front in the U.S. Senate

On May 21, 2025, the debate surrounding cryptocurrencies in the United States took an unexpected turn. Although the Senate had made progress in passing the GENIUS bill, focused on regulating payment stablecoins, a new element has ignited the debate: the direct connection between the Trump family and a cryptocurrency platform.

Several Democratic senators have announced that they will seek to amend legislation to prevent a president from personally benefiting from a stablecoin, in this case one directly linked to Donald Trump and his children.

 What is the GENIUS Act?

The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act seeks to establish a clear legal framework for payment stablecoins in the United States, i.e., digital currencies designed to maintain a stable value and be used as a means of payment.

Its approval could be a major step toward greater crypto legitimacy in the country. However, controversy arose when it was revealed that Trump and his children are directly involved in a stablecoin called USD1, launched through the World Liberty Financial platform.

 Why is this concerning?

Senators such as Chuck Schumer, Elizabeth Warren, and Jeff Merkley have pointed out that, as currently drafted, the law could open the door for a president to obtain personal financial benefits if their own stablecoin is protected or regulated by this law.

The solution proposed by this Democratic bloc is to include an "anti-corruption amendment" that prohibits any sitting president—or their immediate family—from benefiting from these financial instruments while holding public office.

 The case of the USD1 stablecoin and World Liberty Financial

USD1, the stablecoin in question, was launched in March by a platform involving members of the Trump family. According to reports, this stablecoin was even used to channel a $2 billion investment into Binance from an investment firm in Abu Dhabi.

This implies commissions, visibility, and potential financial benefits for those behind the project... in this case, the former president and his family.

A private dinner that fuels controversy

In addition, Trump recently hosted an exclusive dinner for holders of his personal memecoin, which was only attended by those who purchased large amounts. This event, held at one of his private clubs, has been labeled by some senators as "corruption in plain sight."

Senator Chris Murphy was blunt: "What is happening tonight is perhaps the clearest example of how access to power can be bought."

 What can we learn from this?

This debate marks a key moment in the history of cryptocurrencies and politics in the US:

• Cryptocurrencies are no longer just a technical or financial issue.

• Its social, political, and ethical impact is gaining relevance.

• There is an urgent need for forward-looking regulation.

At the heart of the debate is not only the value of a digital currency, but also the role of transparency, public ethics, and equal access to power.

Conclusion

The GENIUS Act could be an important step toward the secure integration of stablecoins into the U.S. economy. But as this case demonstrates, it is also a litmus test for the integrity of the political system and the need to legislate responsibly.

Should a president be allowed to directly profit from a cryptocurrency while in office?
It's a question that goes far beyond Bitcoin. It's about the kind of future we want to build.

 Are you interested in the world of crypto with a conscience?

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