Reported about 19 hours ago
The GENIUS bill, aimed at regulating stablecoins within the crypto industry, is making progress in the Senate, but critics express concerns over potential corruption linked to its proponents, particularly the Trump family. They fear the bill may allow major tech companies to operate like banks without adequate safeguards, raising alarms about a future financial crisis triggered by these entities, reminiscent of past economic collapses. Some Democratic senators have reluctantly supported the bill, acknowledging the inevitability of blockchain technology while highlighting the troubling implications of unregulated cryptocurrency.
Source: YAHOO