Oppose Cryptocurrency GENIUS Act

1. United States
2. Pa.
3. Letter

This proposed laws fails to incorporate ample protections and oversight, jeopardizing the soundness of our conventional banking system. Folding cryptocurrencies instantly into the banking sector heightens the chance of insolvency for conventional monetary establishments within the occasion of a cryptocurrency market crash. Moreover, the shortage of measures to stop the misuse of digital currencies for bribery and corruption raises severe considerations. Safeguarding the integrity and resilience of our monetary system needs to be the highest precedence. I urge you to fastidiously think about these important flaws and potential penalties, and oppose this invoice to avert substantial hurt to our financial system and society.