Here’s an example of the kind of compromise included in the Senate’s updated crypto bill. After bipartisan negotiations this month, the GENIUS Act will now ban stablecoins from using “United States,” “United States Government,” or “USG” in their name.
In some ways, it’s important: stablecoins, typically used to purchase other, more volatile forms of cryptocurrency, are pegged to the dollar.
But, alas, they are not dollars.
