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Progressive Senators Warren and Merkley Lead Opposition to Trump’s GENIUS Act
Progressive Senators Warren and Merkley Lead Opposition to Trump’s GENIUS Act
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Senators Elizabeth Warren and Jeff Merkley are spearheading a national campaign against the GENIUS Act, a proposed regulatory framework for stablecoins. The progressive group Our Revolution has organized a VIRTUAL event on May 12 to rally opposition, framing the legislation as a "crypto power grab" by the Trump administration.
Critics argue the bill would enable untraceable crypto donations in elections, deregulate stablecoins, and create conflicts of interest for public officials. "This hands the keys of our democracy to crypto billionaires and Trump’s inner circle," the group warned in a press release.
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