The GENIUS Act is the first pro-crypto bill Republicans want to rush through this Congress. Thanks to industry money, several Democrats are ignoring the bill’s major problems.

The GENIUS Act is the first pro-crypto bill Republicans want to rush through this Congress. Thanks to industry money, several Democrats are ignoring the bill’s major problems.

  • BrianTheeBiscuiteer@lemmy.world
    4·
    1 day ago

    the GENIUS Act creates a framework whereby stablecoin issuers under $10 billion would be regulated by states, and issuers over $10 billion regulated by the Federal Reserve or the Office of the Comptroller of the Currency.

    As Trump has so clearly demonstrated, regulations are suggestions. Unless you’re on the “whitelist” regulators aren’t going to protect you anymore.