On the recordJune 11, 2025
we are living in a time of open government corruption that few of us thought could occur here in the United States of America. We sometimes recognize it and expect it in countries far away where authoritarian figures take a slice of every contract that moves through the government but not here in the United States of America, and yet here we are. President Trump has planted a ``Government for Sale'' sign on the White House lawn, and individuals and foreign governments are funneling money into his pocket and his family's pocket in order to gain access and influence. The GENIUS Act attempts to set up some guardrails for buying and selling a type of cryptocurrency--one type--called a stablecoin. We need guardrails that ensure that government officials aren't openly asking people to buy their coins in order to increase their personal profit or their family's profit. Where are those guardrails in this bill? They are completely, totally absent. The GENIUS Act doesn't set up guardrails for the President or the Vice President. It doesn't set up guardrails that prevent an open invitation for people to buy access and influence by buying cryptocoins that increase the wealth of elected officials. Without such a guardrail, this bill should never pass. We have the opportunity now to debate anti-corruption amendments, but I understand the majority leader has decided to cancel any amendments from being considered here on the floor of the Senate.
Source
govinfo.gov




