Political Quotes

“it is customary, when we consider major legislation, to give credit to those who created the bill. The ghost of Sam Bankman-Fried looms above this auditorium. He is the genius behind this GENIUS Act, and one can only hope that he is able to watch C-SPAN on a black-and-white television set in his prison cell. You don't have to be a genius to know that this bill is an attack on working families. That is why the AFL-CIO says no, and they are scoring it. They call it stablecoin. It is not stable. It is not a coin. It is a money market account that, under this law, must pay zero percent interest. Who wants to forgo a 4 percent rate of return and get a zero percent return in stablecoin? Those who are desperate for what cryptocurrency offers. Cryptocurrency literally means hidden money, and these stablecoins are exempt from the anti-money laundering provisions. Thus, it meets the needs perfectly of drug dealers, human traffickers, sanctions evaders, those who are hiding assets from their former spouses, and tax evaders. Just to be clear, the Republicans rejected unanimously in committee a provision to prevent mixers. Mixers are devices whose sole purpose is to defeat even top law enforcement efforts pursuant to a warrant, and under this bill mixers will be used to defeat law enforcement. Republicans claim to be against crime in the streets, but they are creating a device whose sole purpose is to facilitate crime in the suites.”