1. United States
2. Calif.
3. Letter

senate_both I am writing to urge you to oppose Trump’s crypto corruption and oppose the GENIUS Act. The GENIUS Act claims to “regulate” a strand of crypto called “stablecoins.” But in reality, it enables illicit uses of cryptocurrency, exposes us to blatant frauds, and imperils financial stability.  This bill does nothing to stop Donald Trump or his family or family businesses to use their own crypto currency to corruptly funnel money to themselves. As Senator Chris Murphy put it, Trump is effectively posting his “Venmo or CashApp online for every corporate interest and foreign government to funnel money directly into his bank account.” The Trump family launched multiple cryptocurrencies that they’re already using to accept bribes. The United Arab Emirates is using one of Trump’s cryptocurrencies for a $2 billion deal—making Trump millions. Trump is using his other cryptocurrency to run a pay-to-play scheme, where the top investors get to attend a fancy gala at the White House and face time with the President. Do not work with Republicans on this bil that does nothing to reign in this corruption. Do not join forces with any “crypto-curious” Democrats who may be willing to settle for a final bill that does nothing at all to stop the flow of bribes to Trump and his family. Close ranks and stop this outrageous corruption.