AML Software, an Illinois-based developer, has filed a lawsuit against Bitcoin ATM operator Athena Bitcoin, alleging a brazen attempt to steal its proprietary source code. The 16-page complaint, filed this week, accuses Athena of copyright infringement and trade secret misappropriation, while revealing the company simultaneously faces separate allegations from Washington D.C.’s Attorney General for profiting from scams targeting elderly victims. This dual legal front exposes significant operational and ethical risks within the rapidly expanding but lightly regulated cryptocurrency ATM sector.
about Athena Bitcoin Sued for Source Code Theft, Elderly ScamsKirsten Gillibrand
0 posts last weekSenate Pushes Crypto Market Framework for Clear Regulations
The Senate Banking Committee released a regulatory framework for digital assets, aiming to clarify distinctions between securities and commodities while avoiding the creation of a new crypto-specific agency. Key proposals include updated registration paths for compliant issuers, self-custody protections, and tailored exemptions for tokenized projects. Witnesses, including industry leaders and former regulators, stressed the urgency of clear rules to prevent fraud and maintain U.S. competitiveness. The framework also advocates for inter-agency coordination, anti-money laundering measures, and consumer safeguards like asset segregation. Lawmakers now face the task of drafting legislation, with jurisdiction split between the SEC and CFTC. The move follows bipartisan momentum, as seen in recent votes, but challenges remain in balancing innovation with oversight.
about Senate Pushes Crypto Market Framework for Clear RegulationsAmazon, Walmart Eye Stablecoin Launch to Cut Fees
Amazon and Walmart are reportedly exploring the launch of proprietary stablecoins to streamline payments and reduce credit card processing fees, according to a Wall Street Journal report. These USD-pegged digital assets could save billions by bypassing traditional payment networks, offering instant transfers for suppliers and customers. The move aligns with the GENIUS Act, a bipartisan bill creating a regulatory framework for stablecoins, which recently advanced in the Senate. While corporate stablecoins promise efficiency gains, they must overcome public skepticism post-TerraUSD collapse and ensure regulatory compliance. Success could trigger a crypto bull run and reshape retail finance under evolving U.S. crypto policies.
about Amazon, Walmart Eye Stablecoin Launch to Cut FeesWalmart & Amazon Eye $14B Savings with Stablecoins
Walmart and Amazon are preparing to launch their own stablecoins, backed by U.S. dollars or Treasuries, as the Senate moves closer to passing the GENIUS Act (S.394), which would establish a federal regulatory framework for such digital currencies. The retailers aim to reduce card processing fees, which cost them an estimated $14 billion annually, with potential savings of $1 billion in EBITDA gains for a 1% reduction. The GENIUS Act, sponsored by Sen. Bill Hagerty (R-TN), mandates 100% reserve backing, monthly disclosures, and consumer protections, with bipartisan support. The bill avoids algorithmic assets and focuses solely on payment functionality, marking a shift from previous failed attempts like Meta’s Diem. A Senate vote on June 17 will determine the fate of the legislation, which could pave the way for widespread adoption of retailer-issued stablecoins in e-commerce and supply chains.
about Walmart & Amazon Eye $14B Savings with StablecoinsDemocrats Push to Amend GENIUS Act Over Trump Crypto Ties
The GENIUS Act, the first U.S. stablecoin regulation framework, is nearing enactment, but Democratic lawmakers are demanding amendments to prevent corruption risks linked to former President Trump and his family. Senators like Jeff Merkley and Elizabeth Warren want safeguards against influence peddling, especially as Trump’s crypto venture, World Liberty Financial, launches a new stablecoin, USD1. While the bill mandates federal oversight for stablecoin issuers, concerns persist over Trump’s alleged conflicts of interest, prompting a Democrat-led investigation into his crypto dealings. Despite opposition, some lawmakers argue the bill should pass to legitimize blockchain innovation.
about Democrats Push to Amend GENIUS Act Over Trump Crypto TiesSenate Stablecoin Bill Gains Momentum, Nears Passage
The GENIUS Act, a Senate bill aimed at establishing a legal framework for stablecoins in the U.S., has overcome earlier setbacks to pass a crucial procedural vote. After failing to secure enough support earlier this month, key Democrats have now backed the bill, pushing it toward a full floor vote. The legislation, which requires 60 votes to pass, could be enacted as soon as tomorrow. If approved, it would then move to the House and potentially to President Trump’s desk. Stablecoins, which are crypto tokens pegged to the U.S. dollar, are seen as a gateway for Wall Street to enter the crypto market, potentially bringing billions in investment. The bill’s revival follows last-minute concessions on issues like conflicts of interest and Big Tech regulations, as well as intensified lobbying from industry leaders like Coinbase. However, critics question whether the new provisions are enforceable enough to address ethical concerns, particularly regarding the president’s ability to launch stablecoins.
about Senate Stablecoin Bill Gains Momentum, Nears PassageTrump Pushes U.S. as Crypto Capital with New Regulations
The Trump administration is aggressively pursuing cryptocurrency regulation, aiming to pass stablecoin and market structure legislation before the August congressional recess. Bo Hines, Executive Director at the President’s Council of Advisers on Digital Assets, highlighted progress at Consensus 2025, emphasizing bipartisan efforts led by Senators Lummis and Gillibrand. Meanwhile, the U.S. holds the largest national Bitcoin reserve (207,189 BTC), with Trump signing an executive order to establish a Strategic Bitcoin Reserve. However, ethical concerns persist over Trump family ties to crypto ventures. The administration seeks a balanced regulatory framework to foster innovation while protecting investors.
about Trump Pushes U.S. as Crypto Capital with New RegulationsUS Senate Nears Stablecoin Bill Passage by May 26
The US Senate is poised to pass the GENIUS Act, a bipartisan stablecoin bill, by Memorial Day (May 26). Senators Kirsten Gillibrand (D) and Cynthia Lummis (R) confirmed the removal of language targeting Donald Trump’s crypto projects, including memecoins, a stablecoin, and a mining firm. The revised bill aims to foster innovation while ensuring regulatory clarity for stablecoins. The move signals a compromise to secure broader legislative support ahead of the deadline.
about US Senate Nears Stablecoin Bill Passage by May 26GENIUS Act Stalls: Future of US Stablecoin Regulation in Doubt
The GENIUS Act, which aims to establish a legal framework for stablecoins in the U.S., stalled in the Senate after failing a procedural vote. Despite earlier momentum, disagreements over anti-money laundering provisions and political optics—amplified by Trump’s crypto-related announcements—have derailed progress. Pro-crypto Democrats withdrew support, citing insufficient safeguards, while Republicans explore alternative procedural avenues. Policy leaders warn that without a breakthrough this week, the bill—and broader crypto legislation—could collapse. The outcome will shape Wall Street’s entry into the stablecoin market and the future of DeFi regulation.
about GENIUS Act Stalls: Future of US Stablecoin Regulation in DoubtGENIUS Act Fails Senate Cloture Amid Crypto Concerns
The GENIUS Act, formally known as the Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, failed to clear a Senate cloture vote on May 8 by a single vote. Sponsored by Senator Bill Hagerty and co-sponsored by bipartisan lawmakers, the bill faced last-minute resistance from Senate Democrats, who raised objections tied to former President Donald Trump’s cryptocurrency activities. Despite amendments introducing stricter Anti-Money Laundering (AML) requirements for stablecoin issuers, the legislation stalled, marking a setback for U.S. crypto regulation efforts. The bill’s failure highlights ongoing political tensions surrounding cryptocurrency policy and stablecoin oversight.
about GENIUS Act Fails Senate Cloture Amid Crypto ConcernsSenate Rejects GENIUS Act, Jeopardizing Crypto Legislation
The GENIUS Act, which aimed to establish a legal framework for stablecoins in the U.S., suffered a major blow after failing a key Senate procedural vote. Several previously supportive Democrats voted against cloture, citing unfinished text and concerns over anti-money laundering provisions. The failure jeopardizes not only this bill but also other pending crypto legislation, as bipartisan momentum falters. Last-minute negotiations and White House pressure failed to sway Democrats, with some blaming partisan politics. The crypto industry’s years-long lobbying efforts now face uncertainty, potentially derailing what had been seen as a top legislative priority for 2025. While some hope remains for a future vote, the path forward appears increasingly difficult.
about Senate Rejects GENIUS Act, Jeopardizing Crypto LegislationGENIUS Act Gains Backing from Crypto Leaders Ahead of Senate Vote
The GENIUS Act, introduced by Senator Bill Hagerty and co-sponsored by key Senate figures, seeks to create a federal licensing system for stablecoin issuers. Backed by prominent crypto leaders like Chris Dixon and Brian Armstrong, the bill is seen as a crucial step toward regulatory clarity and consumer protection. Dixon highlighted its potential to solidify U.S. blockchain leadership, while Armstrong urged bipartisan cooperation to pass the legislation before August. The Act outlines eligibility for issuers and sets rules for foreign entities, aiming for a consistent regulatory environment. This effort aligns with broader crypto regulatory moves, including the recently passed STABLE Act, which empowers the OCC to oversee nonbank stablecoin issuers and bolster the U.S. dollar’s global role.
about GENIUS Act Gains Backing from Crypto Leaders Ahead of Senate Vote