Several Senate Democrats join Republicans to pass landmark cryptocurrency bill establishing regulatory framework for stablecoin, despite critics' objections.
Kind of bizarre they have a photo of Warren as the top image for the headline “Senate Democrats Help GOP Pass Crypto Bill” when she’s been the most vocal one against passing it.
No one has been a bigger critic of the GENIUS Act than Sen. Elizabeth Warren (D-Mass.), the ranking member on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, who has warned that in addition to weak protections for consumers and financial stability, the bill allows tech companies to issue their own private currencies and “take control over the money supply.”
She also said that the GENIUS Act mirrors the passage of the 2000 passage of the Commodity Futures Modernization Act (CFMA), which deregulated derivatives and helped the product proliferate in the lead-up to the financial crisis of 2008.
Kind of bizarre they have a photo of Warren as the top image for the headline “Senate Democrats Help GOP Pass Crypto Bill” when she’s been the most vocal one against passing it.
While Common Dreams is a very good outlet, the choice to display Warren with that headline was not the wisest of moves.