How KFC franchisees pushed the GENIUS bill forward
Main Idea
The GENIUS bill, signed by President Donald Trump, represents a significant milestone for cryptocurrency regulation, setting a baseline for future legislation and involving notable lobbying efforts by KFC franchisees.
Key Points
1. President Donald Trump signed the GENIUS bill, marking a significant milestone in cryptocurrency regulation.
2. The GENIUS bill is seen as a 'baseline' for Congress and was relatively easy to pass compared to other legislative efforts.
3. KFC franchisees played a key role in lobbying for the GENIUS bill, demonstrating grassroots support for the legislation.
4. The bill sets specific criteria for financial services issuers, potentially limiting projects like Facebook's Libra but allowing for creative legal workarounds.
5. GENIUS is expected to pave the way for future legislation, including the CLARITY Act and anti-CBDC measures.
Description
Paradigm’s Alexander Grieve and Jito Labs CLO Rebecca Rettig broke down the GENIUS bill on the Empire podcast
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