US lawmakers accuse Trump of wanting to replace the US dollar with a personal stablecoin

US Congresswoman Waters accused former President Donald Trump on 2 April of using political influence to push his family business to issue stablecoins for profit, and warned that Congress should veto the relevant bill if it does not address his conflict of interest. She claimed Trump may be trying to get the government to fully adopt his private stablecoin to replace the dollar payment system. Lawmakers on both sides of the aisle are concerned that Trump's involvement in the crypto industry carries moral hazard and complicates the legislation. The stablecoin bill in question is awaiting a committee vote.