Ah, the Senate. Always so full of grand promises and oh-so-empty actions. In the latest installment of their eternal struggle to do… well, anything, the GENIUS Act — the miracle bill to finally bring some clarity to stablecoin regulation — has met its untimely demise. Once again, the spotlight falls on the US Senate’s impressive ability to block progress, much like a stubborn mule refusing to leave the barn. 🐴
The Treasury Secretary’s Gentle Reminder: “Uh, Guys, You’re Losing” 😬
In a truly heartwarming X post (because we all know nothing says ‘serious’ like a 280-character social media rant), Treasury Secretary Scott Bessent expressed his ‘disappointment’ at the Senate’s inability to move the GENIUS Act forward. He thoughtfully pointed out that, if America continues this game of financial limbo, other countries might just walk off with the stablecoin crown. After all, who doesn’t want to hand over global financial dominance to someone else? 🇺🇸💀
But Bessent, ever the optimist, warned that without a streamlined federal framework, digital innovation might just wander off to more welcoming shores, leaving the US trailing behind like a forgotten relic. ‘Stifling innovation’ is the phrase of the day, folks. And of course, he’s still not thrilled about the potential move towards CBDCs — because nothing says ‘freedom’ like central banking in digital form.
Senator Lummis: A Cry in the Digital Wilderness
As expected, Senator Cynthia Lummis, another fan of stablecoins, couldn’t help but chime in, her disappointment palpable in an X post that echoed through the halls of digital politics. The GENIUS Act, she claimed, was ‘essential’ to securing US leadership in the digital economy — which is obviously a good thing unless you’re into, you know, progress. She took a moment to thank key figures like President Trump (because, why not?), Senator Gillibrand, Leader Thune, Chairman Scott, and Senator Hagerty for their ‘valiant efforts’ to craft a solid regulatory framework. Gold stars all around, right?
John Deaton: A Call for Political Decency… or Something
And then there’s John Deaton, the pro-XRP lawyer who, in a stroke of brilliance, demanded that Senators stop bickering like toddlers over candy. He raised an excellent point: ‘What on earth happened to the bipartisan support we had last week?’ Well, John, welcome to the Senate. Where common sense is a rare commodity, and political games are the only things that move fast. Deaton’s plea for lawmakers to set aside their childish squabbles and actually do something productive is… well, as revolutionary as asking for a unicorn in your backyard.
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2025-05-09 12:37