Senator Bill Hagerty, the man who apparently thinks “GENIUS” is an acronym for a stablecoin bill, has decided to throw his hat into the crypto ring. 🎩 He’s introducing a new bill, and guess what? It’s all about “guiding and establishing national innovation for US stablecoins.” Yeah, because who needs sensible legislation when you can have a catchy acronym, right? 🙄
The bill, which sounds suspiciously like a rejected title for a high school play about a quirky group of friends who start a cryptocurrency, aims to establish a regulatory framework for the fast-growing stablecoin market. Apparently, the U.S. is trying to be the “crypto capital of the world” now. I mean, what’s the point of having a global superpower if you can’t corner the market on virtual tokens, right? 😜
Hagerty’s new bill is being co-sponsored by a bunch of other senators, including Cynthia Lummis, who’s basically the queen bee of crypto in the Senate. She’s even pushing for a Bitcoin strategic reserve, which sounds like something straight out of a dystopian sci-fi novel. 🤖
The bill requires all stablecoins to be backed by U.S. Treasury bills, U.S. dollars, and Federal Reserve notes. So basically, they’re trying to make crypto more boring by tying it to real money. Ugh, where’s the fun in that? 🙄
Hagerty is apparently working with Rep. French Hill, the chair of the House Financial Services Committee, to get this bill passed. Let’s just hope they don’t accidentally turn the entire U.S. economy into a giant meme. 😂
Read More
- Nadaaniyan song Galatfehmi OUT: Ibrahim Ali Khan, Khushi Kapoor’s heartbreaking separation in love will leave you emotional
- Pop-Tarts and Krispy Kreme Kick Off 2025 With Collaborative Menu
- Cookie Run Kingdom Town Square Vault password
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- The First Trailer for The Weeknd’s ‘Hurry Up Tomorrow’ Film Is Here
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- JJJJound’s Made in Germany adidas Superstars Drop This Week
- Lars Eidinger on Berlin Opener ‘The Light’: “We, the Privileged Wealthy, Are the Problem”
- Ryan Gosling’s Star Wars Movie Here’s Everything We Know
- ‘The Last of Us’ Gets Season 2 Premiere Date
2025-02-04 20:30