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GENIUS Act Critics Warn It Can Have Implications as Chaotic as the 2008 Financial Crisis

Summary by crypto.news
Sen. Elizabeth Warren criticized the bipartisan GENIUS Act, saying that vested interests from the crypto industry heavily dictated this legislation. This situation reminds her of the 2000 Commodity Futures Modernization Act, which was a precursor to the 2008 financial crisis.…
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6 Articles

The law doesn't ban cryptocurrencies, but it does restrict who can issue stablecoins and under what conditions, and will affect users in Latin America and Spain. Read more

Trump revives US ambitions on crypto with a presidential report that promises a clear federal framework for trading, guarding and taxing digital assets. The goal is to eliminate grey areas that were hindering the industry. The report supports dollar-backed stables through the GENIUS Act, while strongly rejecting CBDCs. Washington is relying on on on-chain finance to strengthen hegemony of the green note. New tools such as safe harbors and regula…

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pokonews.com broke the news in on Wednesday, July 30, 2025.
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