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- 🚨 Gate Alpha Ambassador Recruitment is Now Open!
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- 📢 Gate has released its latest Proof of Reserves report!
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Waters: CLARITY & GENIUS Acts Threaten US Markets
Waters: CLARITY & GENIUS Acts threaten US markets – echoing the deregulatory moves that led to the 2008 financial collapse. Specifically, she states that the CLARITY Act “handcuffs” the SEC and creates loopholes similar to those exploited in the FTX schemes. Regarding the GENIUS Act, she also issues a warning, asserting that the bill does not provide the funding and oversight necessary to protect stablecoin users.
Additionally, Waters called out Donald Trump, claiming that he is using presidential power to promote crypto deals abroad with “questionable and dangerous foreign entities.” Overall, in her view, the advancing pro-crypto bills “will only strengthen Wall Street’s dominance alongside Big Tech, while squeezing out smaller innovators.”
Is this a case of conservative resistance to the inevitable evolution of financial systems, or a sound warning amid the unprecedented acceleration of pro-crypto regulation?