Post AvEo0dF649vNVk9bIO by ChrisHolladay@mastodon.social
(DIR) More posts by ChrisHolladay@mastodon.social
(DIR) Post #AvEjSxIoZs5y3zZyTo by Nonilex@masto.ai
2025-06-17T23:27:55Z
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The #Republican controlled #Senate Tuesday passed #legislation to establish a #regulatory framework for #stablecoins, putting the#cryptocurrency industry, which had long been viewed with suspicion by lawmakers in Washington, on the brink of a major policy breakthrough.The *GENIUS Act*, followed an aggressive lobbying campaign aimed at transforming cryptocurrency’s image from #scandal-plagued experiment to *legitimate* financial sector.#law #finance #fraud #Trump https://www.nytimes.com/2025/06/17/us/politics/senate-cryptocurrency-bill.html?smid=url-share
(DIR) Post #AvEjj6CjFT0IIzQkT2 by Nonilex@masto.ai
2025-06-17T23:30:50Z
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#Senate passage came over the fierce objections of #Democrats, who warned that the measure lacked strict-enough #regulations or #oversight to prevent abuses, includinganti-#corruption rules that would bar #Trump & his family from continuing to #profit from #cryptocurrency.The bill still must be passed by the #House & signed by Trump. But the 68-30 vote in the Senate marked the first time the chamber has approved major cryptocurrency #legislation.#law #finance #fraud
(DIR) Post #AvEjjmwaLMdkrNCxm4 by GGMcBG@mstdn.plus
2025-06-17T23:30:56Z
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@Nonilex Bye, money. It was interesting.
(DIR) Post #AvEjyYKIyOI5ruLKHQ by Nonilex@masto.ai
2025-06-17T23:33:29Z
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It represented a significant step toward giving the #cryptocurrency industry what it has long sought from Washington: credibility….…The #legislation’s success reflects the dramatic shift that has taken place in Washington as #Republicans have consolidated a governing trifecta.While the #Biden admin cracked down on digital assets, #Trump has pulled back sharply on such #regulations [because he personally profits from #crypto]….#law #finance #fraud
(DIR) Post #AvEkJZR62iwXOIXeGe by Nonilex@masto.ai
2025-06-17T23:37:11Z
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[#Republicans loosening of #cryptocurrency #regulations] has coincided w/Trump’s family’s rapid expansion into the industry, which has made #Trump into a #crypto dealer who stands to make huge sums of money from it.In a #policy stmnt released before the final vote, WH ofcls wrote that the bill “removes #regulatory uncertainty that has hindered *innovation & competitiveness* [#fraud & #MoneyLaundering] in the digital assets sector.”#law #finance #profiteering #USpol
(DIR) Post #AvEkJnYhXFLRBwCv44 by GhostOnTheHalfShell@masto.ai
2025-06-17T23:36:56Z
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@Nonilex Nothing can save an illegitimate industry. This is what we get when we don’t have democracy passing laws. I know Curtis Yarvin and his buddies 2008 on democracy, but now we’re going to try out oligarchy.No, not the old guard that he dated 2008 oligarchy full view
(DIR) Post #AvEkatk1nkErI1evsu by Nonilex@masto.ai
2025-06-17T23:40:17Z
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…The biggest hurdle for the industry has always been legislative: securing #regulations that confer legitimacy without adding onerous requirements. And for that, executives & lobbyists had to turn their full attention to #Congress.Ahead of the 2024 election cycle, a network of #SiliconValley #crypto executives & political strategists set their sights on DC. They formed a number of crypto-focused super PACs which spent a total of >$130M to #influence tight congressional races nationally.#law
(DIR) Post #AvEkc1dNwQWA3h5cFU by FinchHaven@sfba.social
2025-06-17T23:40:44Z
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@Nonilex "“removes #Regulatory #Uncertainty that has hindered #Innovation & #Competitiveness* "Good Lord almightyWill the #Republicans **ever** come up with some new cliches?They've been hitting on that "Innovation and Uncertainty" trope for decades
(DIR) Post #AvEkdPj1rC8F46OKzA by r0k@mastodon.social
2025-06-17T23:40:59Z
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@Nonilexhttps://hachyderm.io/@molly0xfff/114694501178471974
(DIR) Post #AvEkhBA1wvAv3JogvA by r0k@mastodon.social
2025-06-17T23:41:42Z
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@Nonilex https://hachyderm.io/@molly0xfff/114694501178471974
(DIR) Post #AvEkqfROjoRlZSSrcu by Nonilex@masto.ai
2025-06-17T23:43:25Z
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[Money well spent as]…18 #Democrats joined #Republicans in backing the measure, while 2 Republicans opposed it.The #stablecoin bill would give a government imprimatur to an important branch of the industry & help encourage more companies in the traditional #finance world to experiment with #digital currencies. Circle, the world’s 2nd-largest stablecoin company, went public this month, with its shares surging nearly 170% on the first day of trading.#law #cryptocurrency #crypto #fraud #Trump
(DIR) Post #AvEl6dD6nZG1HpOQng by Nonilex@masto.ai
2025-06-17T23:46:14Z
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…A coalition of #Democrats, led by Sen #KirstenGillibrand of #NY, have supported the #legislation despite misgivings from mostsenior members of the party.Sen #ElizabethWarren, Democrat of #Massachusetts, was unforgiving in her criticism, arguing that the legislation’s “thin #regulation” mirrored the #deregulatory approach that helped create the 2008 #FinancialCrisis.#law #cryptocurrency #crypto #finance #fraud #Trump
(DIR) Post #AvElJxxQyL6lOhQ5gW by Nonilex@masto.ai
2025-06-17T23:48:42Z
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“It’s the same move a second time,” Sen #ElizabethWarren said in an interview. “Why is the industry here asking for regulation? They want the gold star of US government oversight without really having significant #oversight.”Warren is not alone. Sen #ChuckSchumer of #NY, the Democratic leader, has also opposed the bill consistently.#law #cryptocurrency #crypto #finance #fraud #Trump
(DIR) Post #AvElNAJbU2UQanJajI by Nonilex@masto.ai
2025-06-17T23:49:17Z
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Sen #ChuckSchumer said that it improved through negotiations, but criticized the absence of anti-#corruption protections, specifically those aimed at preventing #Trump & his family from continuing to #profit from #cryptocurrency, an issue that became a wedge among #Democrats as the bill made its way through the #Senate.#law #cryptocurrency #crypto #finance #fraud #Trump
(DIR) Post #AvElXFYQrKiPjm3l7A by ChrisRoberts@mstdn.social
2025-06-17T23:51:04Z
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@Nonilex Yes, but also the same useless rhetoric from Warren and Schumer which will accomplish nothing except provide basic due diligence for the records.
(DIR) Post #AvElXaODOW1KMARObY by RobinFriend@mas.to
2025-06-17T23:51:05Z
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@Nonilex Sounds like it was good enough for tens of damn Democrats
(DIR) Post #AvElYCdRCMmAyNr5bk by Nonilex@masto.ai
2025-06-17T23:51:17Z
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Initially, #Democrats believed they would have a chance at addressing those concerns. Sen #JohnThune, #Republican of #SouthDakota & the majority leader, promised that their changes would be considered, & Democrats contributed to the more than 100 proposed modifications.Among them was one from Sen #JeffMerkley, Democrat of Oregon, who sought to bar #Trump & his family from issuing #stablecoins.#law #cryptocurrency #crypto #finance #fraud
(DIR) Post #AvElhc5FwyR8VUM2PQ by PaulWermer@sfba.social
2025-06-17T23:52:57Z
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@Nonilex Legislation designed by GENIUSes for approval by idiots?
(DIR) Post #AvEljChxGfccNtDKKm by Nonilex@masto.ai
2025-06-17T23:53:17Z
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“We need guardrails that ensure that government officials aren’t openly asking people to buy their coins in order to increase their #Persona Profit or their family’s #profit,” Sen #JeffMerkley said on the #Senate floor.But #Republicans refused to consider any measure that touched on #Trump’s involvement in the #cryptocurrency industry, & ultimately shut down the amendment process, leaving a small bipartisan group of senators to negotiate only a few changes to the bill.#law #finance #fraud
(DIR) Post #AvElwVSuq6nCK9WSvo by colo_lee@mstdn.social
2025-06-17T23:55:37Z
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@Nonilex just to be clear, the repubs are, as always, bad actors.But, wtf is wrong with Dems for thinking they'd work with them in good faith? I mean, how many times does that football have to get yanked away before they wake up?#uspol
(DIR) Post #AvEmNE6XUkSCIanUbQ by jamesbritt@mastodon.social
2025-06-18T00:00:28Z
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@Nonilex Burn every Republican like a Tesla.
(DIR) Post #AvEmsbZWIGJw3iJbJA by Nonilex@masto.ai
2025-06-18T00:06:10Z
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@PaulWermer perfect summary
(DIR) Post #AvEo0dF649vNVk9bIO by ChrisHolladay@mastodon.social
2025-06-18T00:18:49Z
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@Nonilex Traitors...every last one of those weasel mf'ers
(DIR) Post #AvEpCxLTFZ13HuZkyu by AlfNoProblem@mastodon.social
2025-06-18T00:31:52Z
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@Nonilex Haha! :-) I wonder how that's gonna end. We're all gonna pay for this one way or another and someone's gonna get rich and manage to stay out of prison. Not good.
(DIR) Post #AvEtbJeSMpZJEhKLwG by toriaL@mastodon.social
2025-06-18T01:21:26Z
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@Nonilex We gotta get rid of these fucking Republicans. They’re just gonna keep ripping off America blind as long as we let them have control. They’re gonna keep ripping off America and we will have nothing left. We’ve got to get rid of those fucking crooks. !!!
(DIR) Post #AvF2ohT027ugRwQQRU by troy_frizzell@mstdn.social
2025-06-18T03:04:43Z
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@Nonilex This doesn't legitimize crypto, it de-legitmizes Congress.Not a high bar in 2025.