Trump's Crypto Involvement Still Muddies GENIUS Bill Progress

Down the years Donald Trump's business dealings have often raised eyebrows, known better as a property magnate and developer his interests have also spanned whiskey, steaks, education, television entertainment and obviously you cannot fail to notice the two United States Presidential election wins having switched from being a Democrat to a Republican.One of his latest family ventures has, of course, been the foray into social media with Truth Social, and his endeavours in Bitcoin that range from Stablecoin involvement down to good old non fungible tokens (NFT's) and meme stock, but based on the most recent company disclosures published on the website of World Liberty Financial, it seems that the Trump family may have divested their ownership to the point where they are no longer the ventures majority shareholders.Following research from a number of crypto focus websites, it has been discovered that the latest releases by WLF show that the family of the current President have now reduced its stake from a majority of 60%, down to a still sizeable minority of just 40%, and although there are no official statements yet on the reasons that exist behind the change, it does of course come on the verge of the US Senate gearing up to pass legislation that would regulate Stablecoins. For normal people who use crypto related offerings such as bitcoin online casinos, they can only probably dream of the kind of returns that the Commander in Chief has received alongside the relevant involved members of his family.It is already known that the 47th President and his family may have potentially gained to the tune of $57 million from their involvement in the company based on the filings from last year, but it has obviously led to plenty of commentary surrounding the ethics and fairness of the President backing a bill that would regulate one of his own companies. Self regulation around the world has rarely ever ended up with not creating great consequences, but given that Stablecoin at face value will now be under stricter regulation and a more stable footing, the bill also has its supporters.Those objecting stepped up their own complaints when President Trump appeared to give no wriggle room to the fact that the House of Representatives should automatically stamp the Senate's stablecoin bill through with approval, but the detractors are far from swayed and they more than made their points known during Monday's session, suggesting that the details still needed to be properly worked through and that this would definitely take some additional time.French Hill, the representative chairman of the House Financial Services Committee that has been at the primary stage of all stablecoin debate for the past few years in Congress, would not commit to honouring the President's request that lawmakers in the House summarily passed the bill through, and instead was quite determined that talks with the leadership were already underway because there were a number of issues that were required to be ironed out between the Senate's approved text, and the version that the House already had in progress.It seems that there will be no 'LIGHTNING FAST' approval of the so called 'GENIUS Act' that number 47 requested was got to his 'desk, ASAP - NO DELAYS, NO ADD ONS' in a previous visit to his own social media site.The Trump family dropping to 40% will quieten questions, but they will certainly not end them.

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