#GENIUSActPass GENIUS, or How the US Senate Decided

It happened. The Senate of the United States of America, where, let me remind you, the same people sit who once couldn't tell TikTok from a Wi-Fi router, voted for the first major cryptocurrency law in history.

It is pompously called the GENIUS Act. Of course, because we are all geniuses when we exchange a dollar for innovation. The bill passed with a score of 68–30, and now it goes to the House of Representatives, to be… perhaps read again before simply being signed. Or, as usual, simply not read at all.

What is GENIUS?

In theory, it is "federal regulation of stablecoins." In practice? A multi-page bureaucratic manifesto on how, where, and by whom the digital dollar should be printed, so that we can continue to pretend we control inflation, which does not exist, except in real life.