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flag Senator Warren warns the GENIUS Act, regulating stablecoins, could trigger a financial crisis like 2008.

flag Senator Elizabeth Warren warns that the GENIUS Act, aiming to regulate stablecoins, could cause a financial crisis similar to 2008 due to weaker safeguards compared to banks. flag Stablecoins, pegged to assets like the US dollar, are growing in the cryptocurrency market but lack consistent regulation. flag The Senate voted 66-32 to advance the bill, which now heads for final consideration. flag Warren argues that the act could lead to significant financial instability, with taxpayers potentially bearing the cost.

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