Crypto stablecoin legislation advances, but Democrats say Trump’s USD1 raises red flags
The US Congress began reviewing a Crypto Stablecoin bill on Wednesday. This comes a week after Trump-backed WLFI announced the launch of its USD1 Stablecoin pegged 1:1 to the US dollar. Despite concerns, the House Financial Services Committee voted to recommend the crypto stablecoin bill for full legislative process. The U.S. Congress took a major