Banks vs Crypto: Who’s Winning the DC War? 💸🔥

by

So, the CEO of Custodia Bank, a place where they probably keep your crypto in a vault that’s also a yoga studio, says the US Congress is having a *pitched battle* between traditional banks and the digital asset industry. 🧠💥

This week, the House of Representatives passed three bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Because nothing says “we’re serious about finance” like naming your legislation after a 90s sitcom. 🤯

But only the GENIUS Act, which basically says “stablecoins are okay, as long as they don’t cry during tax season,” has made it through both chambers. 🧨

In an interview on CNBC, Caitlin Long (who probably has a PhD in “How to Sound Important While Saying Nothing”) called the process “an ugly sausage-making process.” Because nothing says “democracy” like a metaphor involving meat and regret. 😂

“You’ve got some pretty powerful interests here. The banks are up against the crypto industry, and so far, the crypto industry has been winning.” — Because nothing says “victory” like making banks feel like they’re losing to a bunch of people who think Bitcoin is a “digital asset” and not a 2008 rehash. 🧨

Long says she’s optimistic because the US is facing “enormous fiscal deficits.” Because what could possibly go wrong? 🤯 The crypto market would never have gotten permission, but hey, at least they’re trying to “enable” the government to buy Treasuries. Because nothing says “trust us” like a 2008-style crash. 🎬

Read More

2025-07-18 22:26