Bringing Cryptocurrency and other digital assets into the mainline economy under a federal framework is a massive win for Americans and businesses, as cryptocurrency is something that tens of millions of Americans invest into daily.



The GENIUS Act helped set up a federal framework for stablecoins and establish clear, established rules between stablecoins and traditional banking offers, but there is a loophole that can destroy community banks that Rural Americans, Small Businesses & Americas Farmers and Entrepreneurs rely on for loans.

The Senate Banking Committee had a meeting scheduled for today, but Coinbase's CEO threw fuel into the fire.

Brian Armstrong came out against this bill in an attempt to strong arm negotiations for ransom. This legislation came after thousands of man hours of negotiations and policywriting, and is being thrown in jeopardy at the 11th hour in an attempt to let perfect be the enemy of good.
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • بالعربية
  • Português (Brasil)
  • 简体中文
  • English
  • Español
  • Français (Afrique)
  • Bahasa Indonesia
  • 日本語
  • Português (Portugal)
  • Русский
  • 繁體中文
  • Українська
  • Tiếng Việt