CRITICAL - PAY ATTENTION
The Bank π¦ Lobby is trying to hand China the keys to the future of money. π° π΄
Right now, U.S. Senators are being pressured to "revisit" the GENIUS Act to ban third-party rewards on Stablecoins.
THIS IS A NATIONAL SECURITY TRAP πͺ€
Today, the stakes are higher than ever because China officially began paying interest on the Digital Yuan (e-CNY) - making it a "yield-bearing" competitor to the USD.Β
Meanwhile, the Bank Lobby - the American Bankers Association - is currently pressuring the Senate to close the "third-party loophole" in the GENIUS Act - which would stop companies like
@coinbase @krakenfx @Gemini or
@UpholdInc from giving those rewards to everyday Americans.
If we ban American companies from offering yield to YOU - weβre not "protecting banks" like the bank lobby claims - weβre forcing the world to use Chinaβs currency instead of the USD.Β
Why is the Bank Lobby so afraid of your Digital Dollars? Because they canβt "rent" your money back to you if youβre earning the yield yourself!
Thatβs why the Banking Policy Institute, led by Jamie Dimon, wrote
@ewarrenβs Anti-Crypto Bill in 2024 and why I continue to call her and
@EdMarkey puppets for the Banking Industry.
If the Senate sells out to the Bank Lobby they are effectively taxing every retail investor and customer in MA and across the country to protect Wall Street's bottom line. PERIOD.
President Trump promised to make the U.S. the Crypto Capital of the World. We can't do that if career politicians serve as puppets for the bank lobby at the expense of ordinary Americans while also threatening NATIONAL SECURITY.
Stand with regular Americans - not the lobbyists - and keep the "Genius" in the Act and stop this sell-out.
@realDonaldTrump @SenatorTimScott @SenLummis @berniemoreno @SecScottBessent @DavidSacks @davidsacks47 @howardlutnick @BoHines @patrickjwitt @tyler @cameron @bgarlinghouse @s_alderoty @chrislarsensf @brian_armstrong @faryarshirzad @iampaulgrewal @jespow @DavidLRipley @SMcLoughlin00 @gregkidd
@paoloardoino @DonaldJTrumpJr @EricTrump
#mapoli #MASen #Deaton
The Senate Banking Committee marks up the Market Structure bill next week, and stablecoin rewards remain under debate. Congress already settled this in GENIUSβreopening it now only creates uncertainty and risks the future of the US Dollar as commerce moves onchain. Hereβs why Congress should protect the GENIUS Act, and why rewards help consumers without harming community banks. 1/ π§΅