1. United States
2. Ky.
3. Letter

Elon Musk and Donald Trump are pushing a bill that would let Big Tech issue and control their own private currencies, a move that could destabilize our financial system. The so-called “GENIUS Act” has cleared the Senate Banking Committee and it would hand enormous power to unregulated crypto firms like Musk’s and Trump’s, without real oversight, consumer protections, or accountability. Trump’s crypto company is already working with a shady firm that pleaded guilty to criminal money laundering charges. Musk has used his platforms to pump and dump crypto without remorse. Now they want Congress to sign off on a system they can exploit even more. The bill includes meaningless safeguards while creating dangerous loopholes. It fails to prevent fraud, junk fees, or privacy violations and it leaves the door wide open for money laundering, nuclear weapons proliferation and foreign interference. Stablecoins are already at the center of a system that makes for tens of billions in fraud. You must draw the line. This bill isn’t about innovation, it’s about unchecked power, risky speculation, and putting the public on the hook when things collapse. I ask you to stop the GENIUS Act now. The future of our financial system and consumer protection depends on it.