Senate advances a major crypto regulation bill on a bipartisan vote

[WhiskeyGrinder]

https://www.nbcnews.com/politics/congress/senate-advances-major-crypto-regulation-bill-bipartisan-vote-rcna207809

WASHINGTON — The Senate advanced a major cryptocurrency regulation bill Monday on a bipartisan vote two weeks after every Senate Democrat united to block it.

The procedural vote on the GENIUS Act — which would establish the first regulatory framework for issuers of stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar — was 66-32. Sixteen Democrats voted with the majority of Senate Republicans to advance the bill. Two Republicans, Sens. Rand Paul of Kentucky and Jerry Moran of Kansas, voted against it.

(snip)

The amendment, which Democratic negotiators circulated over the weekend and has been obtained by NBC News, includes new changes to consumer protection safeguards and limits on tech companies issuing stablecoins, and it would extend ethics standards to special government employees — which would temporarily apply to Elon Musk and tech entrepreneur David Sacks.

In exchange for a vote on the amendment, Democrats involved in negotiations said they have committed to support the GENIUS Act even if the amendment fails, according to multiple sources familiar with the talks.

yes votes:

Alsobrooks
Blunt Rochester
Booker
Cortez Masto
Fetterman
Gallego
Gillibrand
Hassan
Heinrich
Lujan
Ossoff
Padilla
Rosen
Schiff
Slotkin
Warner

[BOSSHOG]

1. Extend ethics standards...which would temporarily apply to Elon musk?!?

In the trump administration ethics standards are temporary? With Dem support?

[Silent Type]

2. Don't know enough about crypto but sounds corrupt/risky, encouraging Congress is looking.

[WhiskeyGrinder]

3. This is...not a regulatory bill lol

[Silent Type]

4. Sounds like the start of putting one together if effort continues.

[Celerity]

5. Very disappointed in Alsobrooks, Blunt Rochester, Booker, Lujan, and Padilla. Not at all surprised by most of the rest,

most of whom have already cast multiple poor votes so far in the new Congress.

[DJ Synikus Makisimus]

6. Because we really need to privatize currency.

Bipartisanly.

Using/selling/accepting crypto should merit capital punishment.