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Good article in The Prospect about the coming STABLE and GENIUS acts, which will give an implicit bail out guarantee to crypto money laundering firms - sorry, i mean "stablecoins" - like #Tether and #Circle (#Coinbase). One of the two would also let #ElonMusk print his own dollars.
Senate #Democrats like #KirstenGillibrand, #ElissaSlotkin, and #RubenGallego, whose election campaigns were supported by incredible amounts of crypto money, will probably make sure these bills become laws (because they are corrupt).
Note that stablecoins are currently incredibly profitable businesses. After all a stablecoin is basically a bank where you spend nothing on anti-money laundering & other regulations, refuse to assist customers who have been scammed, and collect 5% interest from the US government while passing absolutely none of it on to your customers.
@cryptadamist I don't understand any of this but all of it sounds really very bad.
@raindrops_and_roses if you don't know what a stablecoin is or how the US Secretary of Commerce is running the world's largest bank for slave traffickers and rogue nuclear states this may help:
https://cryptadamus.substack.com/p/trumps-transition-team-is-tethered
@cryptadamist I don't but based off what you said I should so thanks!