Bitcoin just hit an ALL-TIME HIGH!
President Trump’s pro-crypto, pro-freedom policies are restoring American leadership in the digital economy. 
#BTCT
https://t.co/V7pwAUqRc4
@LizClaman https://t.co/YwDc5S1LEk
BREAKING: Stablecoin legislation suffers severe blow as GENIUS Act fails to pass key Senate vote.
"The Senate’s GENIUS Act failed to pass a key procedural vote on Thursday, a stunning blow to the stablecoin bill’s chance of passage that may have further negative consequences for other crypto legislation pending on Capitol Hill," Decrypt's @s_lutz95 reports.
Requiring all stablecoins to be backed 1-to-1
Giving consumers strong rights in bankruptcy
Establishing strict marketing standards Requiring all stablecoins to be backed 1-to-1
Giving consumers strong rights in bankruptcy
Establishing strict marketing standards
Instead, I discussed benefits of crypto at @TheBlockFound table at BIPARTISAN
Resource Fair hosted by Financial Literacy & Wealth Creation Caucus, Co-Chaired by @RepBeatty & @RepYoungKim. 
Requiring all stablecoins to be backed 1-to-1
Giving consumers strong rights in bankruptcy
Establishing strict marketing standards
My historic legislation establishes the first ever regulatory framework for stablecoins to modernize America’s payment system and affirm the dominance of the US dollar. See the many statements of support from industry stakeholders @BankingGOP. 
NEW: Senator @RubenGallego and nine other senators just issued a joint statement regarding the updated text of the GENIUS Act that was released last week, saying they cannot support the bill in its current form. The group notes several concerns, including insufficient provisions on anti-money laundering, national security, and financial system safety.
Notably, four Dems on the list supported the bill in its original form during the @BankingGOP markup in March: Gallego, Warner, Kim and Blunt Rochester. Democrat Angela Alsobrooks, a co-sponsor of the bill, did not sign the letter.
“This is all about the political dynamics of President Trump,” one Republican Senate aide tells me.
The letter comes following major media scrutiny of Trump’s various crypto ventures, including a New York Times story that stated Trump's family members could profit heavily from $2 billion worth of @worldlibertyfi USD1 stablecoins being used for an investment by a foreign fund.
It also comes just two days after @LeaderJohnThune initiated a process that would expedite a full floor vote on the GENIUS Act.
