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Democrats Thune/Paul/Hawley kill Trump's Pro-Crypto Legislation 48-49
Posted on 5/8/25 at 3:05 pm
Posted on 5/8/25 at 3:05 pm
9
Posted on 5/8/25 at 3:07 pm to MrLSU
Can he declare a national emergency and do it anyway? Just give those senators a cut. They will come around.
Posted on 5/8/25 at 3:08 pm to MrLSU
Oh, FFS
Posted on 5/8/25 at 3:08 pm to MrLSU
Any idiot who still supports cuck paul is just that
An idiot
An idiot
Posted on 5/8/25 at 3:10 pm to MrLSU
quote:
"This bill represents a once-in-a-generation opportunity to expand dollar dominance and U.S. influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more conducive to growth and competitiveness."
So was this a bill to enact a huge federal-regulatory scheme?
Posted on 5/8/25 at 3:18 pm to MrLSU
This seems like such noncontroversial legislation. Why would Paul and Hawley be against this act? I understand the Dems because they are against any legislation supported by Trump but why the GOP senators?
quote:
The GENIUS Act, introduced on February 4, 2025, is designed to create a comprehensive regulatory framework for payment stablecoins in the U.S. Its primary purposes are to:
Provide legal clarity by defining stablecoins and regulating their issuance.
Protect consumers through 1:1 reserve backing, transparency, and redemption rights.
Promote financial innovation by integrating stablecoins into mainstream finance.
Combat illicit activities via AML/KYC compliance under the Bank Secrecy Act.
Maintain U.S. dollar dominance in the global digital economy.
The Act establishes a dual federal-state oversight system, mandates strict reserve and marketing standards, and prioritizes consumer protections, aiming to stabilize the $230 billion stablecoin market while fostering innovation.
Posted on 5/8/25 at 3:18 pm to MrLSU
At least three are hip to the scam.
Posted on 5/8/25 at 3:20 pm to KiwiHead
quote:
At least three are hip to the scam.
What is the scam?
Posted on 5/8/25 at 3:20 pm to aTmTexas Dillo
quote:
Can he declare a national emergency and do it anyway?
The sad thing is, I can no longer tell if people are serious or not when they say shite like this.
Posted on 5/8/25 at 3:21 pm to GumboPot
quote:
Why would Paul and Hawley be against this act?
quote:
designed to create a comprehensive regulatory framework
Posted on 5/8/25 at 3:22 pm to SlowFlowPro
quote:
So was this a bill to enact a huge federal-regulatory scheme?
Seems so. The great thing about crypto is lack of federal regulation/involvement
I’m not necessarily against them blocking this at first glance
Posted on 5/8/25 at 3:23 pm to SlowFlowPro
quote:
designed to create a comprehensive regulatory framework
Fine, I guess.
So the states will have their own regulatory framework.
Whatever. It doesn't matter on de-fi networks anyway.
Posted on 5/8/25 at 3:24 pm to LegendInMyMind
quote:
The sad thing is, I can no longer tell if people are serious or not when they say shite like this.
I'm not up on the subject but I did read the Prime Minister of Canada wanted to in part use Crypto to knock the dollar out as reserve currency status. Seems like we need to be serious about crypto.
Posted on 5/8/25 at 3:24 pm to SlowFlowPro
quote:
So was this a bill to enact a huge federal-regulatory scheme?
If it wasn't it would have almost assuredly led to it.
Posted on 5/8/25 at 3:25 pm to aTmTexas Dillo
quote:
wanted to in part use Crypto to knock the dollar out as reserve currency status.
...how?
By creating a stablecoin attached to the USD?
Posted on 5/8/25 at 3:25 pm to LegendInMyMind
quote:
If it wasn't it would have almost assuredly led to it.
frick dem states' rights
-Scott Bessent, probably
Posted on 5/8/25 at 3:27 pm to SlowFlowPro
I don't see how crypto bros who have spent years championing the lack of regulatory oversight as a major benefit of crypto could support this bill.
Posted on 5/8/25 at 3:27 pm to SlowFlowPro
quote:
By creating a stablecoin attached to the USD?
We've been having this for a long time now. USDT, USDC and DAI.
Posted on 5/8/25 at 3:29 pm to LegendInMyMind
quote:
I don't see how crypto bros who have spent years championing the lack of regulatory oversight as a major benefit of crypto could support this bill.
SGDS (small government derangement syndrome)
Posted on 5/8/25 at 3:30 pm to GumboPot
quote:
We've been having this for a long time now. USDT, USDC and DAI.
I know, and none have made a dent in anything, let alone challenging USD.
Nobody is going to invest in a stablecoin attached to some other currency at a large enough scale to compete with the USD-aligned stablecoins
This post was edited on 5/8/25 at 3:31 pm
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