politics

Big win for stablecoins today

A reminder that Sherrod Brown (voted out) and Elizabeth Warren were the reason a bipartisan bill from the House last year never had a chance to see the Senate floor.

Here's a rough overview of the bill:
- Federal oversight in most cases
- Increased transparency requirements and public disclosures, i.e. are stablecoins backed with real assets
- Some compliance stuff

Ultimately, will be a boon for fintech / tradfi adoption. Which will normalize using public blockchains for more practical stuff.

I would expect in the medium term this benefits decentralized stablecoins like DAI.

https://www.coindesk.com/policy/2025/03/11/latest-draft-of-u-s-stablecoin-bill-aims-to-split-power-between-state-and-federal-authorities

It’s still a shitty budget bill lol 

It’s a bill to cut taxes for the rich while increasing spending to America’s (and man’s) favorite economic boon: War. 

Social security cuts - oh but they’ll just tell me I need to have babies to keep this system up and running. Fuck that - increase the social security tax on the wealthy. 

Classic GOP “fixing” things that they caused in the first place bc that is literally the only kind of policy they know how to pass. Then they point to the electorate, who they have under-educated, under-valued, and under-nourished, and say but hey, they voted for us to do this (after using the big media to spoon feed propaganda) 

Sheeple. 

I hate it here, too, Taylor Swift.