Some Dems Warn Colleagues: Crypto Bill Could Inject Some 19th Century Chaos Into US Economy

Some Dems Warn Colleagues: Crypto Bill Could Inject Some 19th Century Chaos Into US Economy

The Senate is poised to pass the GENIUS Act in the coming weeks. The bill will bestow upon the crypto industry a long-sought blessing: a key form of the digital currency, stablecoins, will now be subject to a bespoke (and notably light-touch) regulatory system created by Congress. With it will come the U.S. government’s stamp of approval. After years spent being dismissed as a haven for money launderers and speculators, the bill is in part a mar…