Why are Democrats Green Plans Trump crypto plans? | Corey Frayer

Youhen Elone musk“The Government Efficiency Department has been acquired” (Doge) Access to Treasury payment systems In February, Democratic party leadership promised to protect state payments from Donald TrumpInfluence. Chuck Schumer and Hakeem Jeffries held a press conference announcing a stop of the Law on theft, which would prevent critical payment infrastructure from taking over critical payment infrastructure. To that the same dayHigh profiles were joined by Republicans to introduce legislation by allowing payments to be made in cryptocurrencies called Stablecoins. The draft law inserts the way that the US president requires that all payments are made from the Government to be made with cryptocurrencies, which could involve the one that has a business interest in it.

After millions have been shared “Memecoin”, the chief of the mayor has entered into a growing crypto-payment market Start-stable. For immobile, stableCOins are cripto products that state the value of currency such as US dollars and are intended to be used as digital payments. In fact, stability permanent fails to hold their valueare not subject to Federal Consumer Protectionand are not supported with full faith and government loan. If the consumer stews are hacked, false or accidentally spent or lost due to the wrong password, stablecoin company will not reverse or make up These payments like credit card company would. If Stablecoin fails, consumers are not protected anything like federal deposit insurance. Stablecoins also became Preferred cryptocurrency for illegal finances.

In awkwardly playful nod to Trump crypto interests, a bipartisan stablecoin Bills and Senate called “Stable“And”Genius“, Respectively next Trump’s claim since 2018. Years that he is a “stable genium”. Legislation sponsors claim that their accounts protect consumers, guarantee stability and express their use in illicit finances. Much academics and expert disagree with these claims. As they point out, the accounts give a crypto company such as president approaching the same payment system that banks and credit card providers use them by far weaker standards from their traditional colleagues.

Almost incredible, consumer protection and consumer privatization and dollar privatization can be at least related to the outcomes of Steblekoin legislation. 25. Marta, Trump issued executable the mandate of the adoption of digital payments and by the US government. It can sound harmless, but the government already makes 95% of its payments electronically. The order does not intend to modernize the already modernized system. Musk exposed the true intention of the order when his team for took over the payment system, on the above-mentioned alarm of congress democrats. He maintained the placing of these payments “to the block“- And thus give public payments with private stablecoins.

It’s not hypothetical. The administration has It’s already floating issuance $ 3.3 billion in the housing departmentBlock Grands Via StableCoins community development block. USAID was referred to make payments in stablecoin. And the musk was on the treasury payments of it? It’s $ 5.45 in State Payments Since social security in salaries and pensions of veterans, federal salaries of employees and income tax returns. Americans could be forced to adopt cryptocurries whether they like or not.

The president showed his willingness to use the power of his office to enrich his family and friends and provide favorites for the CRIPTO business partners. Under Trump, Secu lawsuits against his business partners crypto Justin Sun and Stage were stopped. Only last week, funterically free financial announced Opaqua $ 2 min Deal with a firm in the United Arab Emirates He was chaired by the National Security of the UAEwhich is the country of President of the Earth. It is naive for the thought that Trump will be shy to use its power of profit politically influential cryptom industry, especially its crypto endeavor.

Cript’s ascendant political influence can explain to confuse the pledge of the Democrats to try to strive from the presidency with one hand while pushing stablecoin legislation with another. Conflicts of interest or not, Arug the Democrats’ campaign continues courting crypto, although it does not accept donations in cryptures. Chair for a Democratic Senatory Campaign, Kirsten Gillibrand, is the main sponsor of genius. During the banking committee of the Senate, the news, the news violated that the Trump company talked to the binance about it Start-stable. As if the committee called a break for a word from his sponsor. Five Democrats still voting in support. Democrats House looked for amendments This would at least have the financial interests for such property, but they got a little towing. This weekend, nine former democratic supporters was The obese to block Further consideration, unless applied to problems ranging from money laundering on national security. But they said they were left “Eager to continue working with our colleagues to deal with these issues.”

The democratic party practiced that conflicts of interest in sitting presidents who undermine the strength of our democracy. Anyone, especially the president, who would use the public trust office for personal benefit, must be responsible. Flammable, Democrats are willing to bless Trump crypto grift with Genius ACT. If they do, it will be clear that, at least when it comes to Cript, they prefer to support the abuse of president than fighting them.