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SHARK TANK’S KEVIN O’LEARY SLAMS SENATOR WARREN OVER GENIUS ACT: “UN-AMERICAN AND DANGEROUS”
▪️Kevin O’Leary blasts Elizabeth Warren for politicizing the GENIUS Act, calling her stance “un-American.”
▪️Warren opposes the bill over Trump-linked stablecoin ties and potential corruption loopholes.
▪️Despite the clash, the bipartisan GENIUS Act advances in the Senate, aiming to regulate stablecoins in the U.S.
Shark Tank investor and Canadian businessman Kevin O’Leary is firing back at Senator Elizabeth Warren over her opposition to the GENIUS Act – a bipartisan bill designed to regulate stablecoins in the United States.
O’Leary didn’t hold back, calling Warren’s stance “dangerous” and “un-American,” accusing her of blocking financial innovation by turning the bill into a political weapon against Donald Trump.
O’Leary: Warren Is Politicizing a Vital Crypto Bill
As crypto regulation becomes a bigger part of U.S. policy, O’Leary argues that Warren is distracting from the GENIUS Act’s core purpose. He says the bill is about modernizing the American financial system through properly regulated stablecoins – not about Trump or meme coins.
In a post on X, O’Leary stressed that the bill has nothing to do with Trump and warned that dragging politics into the conversation could hurt the country’s ability to lead in global finance.
According to him, the GENIUS Act is a step toward strengthening the U.S. dollar’s role in digital payments around the world. He believes Warren’s opposition risks slowing innovation and letting countries like China pull ahead in the race for financial dominance.
“This is about establishing the U.S. dollar as the default currency for global price discovery,”
O’Leary said, dismissing Warren’s claims as “completely deranged.”
Warren’s Opposition to the GENIUS Act
Senator Warren opposes the bill, citing its ties to a $2 billion MGX-Binance deal involving USD1, which is a Trump-linked stablecoin.
She cautions that exemptions for senior officials, including the president, could give birth to corruption, claiming the bill risks “greenlighting the grift.”
Warren argues that the bill could allow Trump to regulate his own financial product, undermining transparency and public trust.
GENIUS Act Moves Forward with Bipartisan Support
Despite Warren’s strong pushback, the GENIUS Act recently passed a key Senate hurdle. Several Democrats who were initially skeptical have now supported a revised version of the bill.
The bipartisan support signals growing momentum for establishing clear regulations for stablecoins – something many in the industry believe is essential for the future of digital finance in the U.S.
You can best believe that the debate is not over.
@ Newshounds News™
Source: Coinpedia
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SINGAPORE DOLLAR STABLECOIN XSGD DEBUTS ON XRP LEDGER IN RIPPLE-POWERED PAYMENTS PUSH
StraitsX has launched its MAS-regulated stablecoin XSGD on the XRP Ledger to enable faster, low-cost cross-border payments, as part of a broader multi-chain expansion strategy.
The move marks the first phase of a larger partnership with Ripple aimed at building institutional-grade digital infrastructure focused on tokenisation and real-time financial services.
StraitsX Brings Regulated XSGD to XRP Ledger
Payment infrastructure firm StraitsX has added its Singapore dollar-pegged stablecoin, XSGD, to the XRP Ledger (XRPL) in an attempt to extend its regulated token into a faster, low-cost cross-border payment system.
The expansion was announced Monday and is part of the company’s multi-chain strategy to meet growing demand from fintechs, financial platforms, and digital asset developers seeking programmable, real-time transaction tools across borders, according to the press release.
StraitsX framed this as the “first phase” of a wider collaboration with Ripple focused on tokenisation. While details remain vague, the rationale is to build a regulated, institutional-grade digital infrastructure that goes beyond payments.
A Glimpse Into the Future of Finance
The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading. As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.
Singapore’s Web3 Hub is Expanding
XSGD was issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. The company is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, placing XSGD among the few stablecoins with both regulatory oversight and multi-chain deployment.
XSGD has over 8 billion on-chain transactions already, and a circulating supply above 13.6 million tokens. The stablecoin is live on Ethereum, Polygon, Hedera, Zilliqa, Arbitrum, and Avalanche.
@ Newshounds News™
Source: Crypto News
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