OMG! Crypto Bros Are About To Get REALLY RICH! 🤯

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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. 😂

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2025-02-04 20:30