US (AMERICANS FOR FINANCIAL REFORM) : The SENATE cannot legalize crypto corruption.

 

After being flooded with your calls and letters, last week Senate Democrats  did their jobs. Every Democrat in the Senate Agriculture Committee  stood up for the rights of everyday people and voted against a crypto  industry bill designed to weaken oversight, lock in deregulation, and  benefit elite insiders, money launderers, fraudsters, and wealthy  speculators. That unified opposition mattered. It exposed how deeply flawed this legislation is and Senators made  clear they had red lines, including needing to address the ethics and  crypto corruption issues involving the President and his family. The problem is that their opposition alone does not stop this bill from  moving on to another vote. And already other Senators are wavering.  Industry lobbyists are escalating their push. Without sustained public  pressure, crypto billionaires will keep testing whether they can grind down  resistance and move this forward anyway. Now new reporting has revealed that Sheikh Tahnoon bin Zayed Al  Nahyan, a member of the UAE royal family and the nation’s national  security advisor, secretly bought a massive stake in a Trump-linked  crypto venture just months before his government received access to  highly sensitive U.S. AI technology — the kind of deal that was banned  under previous administrations. A $500 million investment. Nearly half ownership. Millions are flowing directly to Trump-connected  entities. Senior figures of the Sheikh’s AI company are now sitting on  the board of the Trump family’s crypto company. This is the real context for this legislation: Congress is being asked  to rubber stamp an industry-drafted bill that gives it free reign  without oversight, guardrails, or consumer protections. It fails to  block crypto corruption by elected officials and their families at  the exact moment Trump and his allies are raking in billions of  dollars through their crypto ventures, selling access to the  White House, and blurring the line between public power and  private profit. We can’t let that happen. Tell your Senators to block any  crypto industry bill that codifies corruption and deregulates  consumer and financial protections. SIGN AND SEND Democrats have shown leadership. Now that leadership has to hold. The crypto industry is counting on using their power and influence to force  elected leaders to bend to their agenda. They want to write the rules in  their favor. Americans for Financial Reform is pressing Senate offices, reinforcing  their commitments to only support legislation that offers real safeguards  and accountability, and making clear that advancing crypto giveaways  in this moment is reckless and indefensible. We are coordinating with  allies, briefing staff, and elevating the national security and corruption  risks that cannot be ignored. Public pressure is the difference between a win against industry  pressure or a disastrous vote. Let’s keep it up! Senators need to know that people are watching and that crypto  corruption must not be normalized through legislation. Sign and  send a direct message to your senators now. Together, we can keep corruption out of our financial laws. -Mark. Mark Hays (he/his) Associate Director for Cryptocurrency & Financial Technology Americans for Financial Reform. SUPPORT THE CAMPAIGN  Americans for Financial Reform