Democrats Cave, Prepare to Rubber-Stamp Trump Crypto Corruption

A bill called the GENIUS Act would set up a relatively weak regulatory framework for stablecoins, digital assets pegged to the U.S. dollar.

Nine pro-crypto Democrats vowed to vote against cloture and maintain a filibuster, thus blocking the bill, without changes.

It's a bill that is surely necessary in the current environment, but it will never get a passing vote from a Republican Senate .

The timing of the release of the End Crypto Corruption Act was always suspect, a Trojan horse for senators who want to pass a stablecoin bill.

The expectation is that the GENIUS Act will get final votes sometime next week , after whatever other fig leaves are in the text get memorialized in bill language.