Bitcoin Magazine
Bitcoiners Should Care About The GENIUS Act
While the GENIUS Act is a stablecoin bill, U.S.-based Bitcoin enthusiasts should be paying attention to the language in the bill as it pertains to the ability to transact privately with crypto assets — including bitcoin.
Two documents that recently circulated among Senate Banking Committee Democrats indicate that Senate Democrats want to see amendments made to the GENIUS Act that would greatly reduce user privacy in crypto transactions.
Senate Democrats’ Analysis of GENIUS Act
The first of these two documents is a two-pager entitled “Banking Committee Democratic Staff Analysis on Latest GENIUS Act Draft”.
NEW: Senate Banking Committee Democrats just dropped a scathing staff analysis of the latest GENIUS Act draft ahead of this evening’s cloture vote.
Staffers describe the latest GENIUS Act draft as a blueprint for ‘Trump crypto corruption’ and Big Tech dominance over digital… pic.twitter.com/
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