The Senate revived the GENIUS bill on Monday, after a procedural vote put the bill on track to receive the green light. Altcoins like Best Wallet Token could catch steam as a result.
‘This week’s bill is worse than no bill at all,’ she stated, invoking the danger of increased corruption and even putting national security at risk.
Among the numerous specifications, the most notable ones are:
And
This last point ultimately proved paramount to shifting the democratic tide, as several bipartisan negotiators jumped boats after reaching a consensus regarding their main demands.
These include new and more strict changes to the consumer protection policies, more transparent restrictions on tech companies dealing with stablecoins, and extend these standards to governmental agencies.
The last mention would also target Elon Musk and tech giant David Sacks.
So, what does this all mean for the crypto market? As Kara Calvert, Head of US Policy at Coinbase, put it:
In Calvert’s view, the GENIUS bill is a massive step forward for the cryptosphere.
Holding $BEST also rewards you with a dynamic staking APY of up to116%, adding even more incentive to tune into the presale early on.
Yes, we believe that the GENIUS bill will pass, given all the support it’s getting and the dems’ recent bipartisan efforts, overturning the failed attempt on May 8.
So, definitely keep your eyes and ears on the news.
Remember, you shouldn’t take this as financial advice. The crypto market is still volatile and unpredictable, so you should always DYOR (Do Your Own Research) before investing.
