Your Support Helps Us to Tell the Story
The Independent is committed to delivering timely coverage on critical issues, from reproductive rights to climate change and the influence of major technology firms. Our investigative efforts range from examining the financial backing of Elon Musk’s pro-Trump PAC to producing impactful documentaries like ‘The A Word’, which highlights the struggles of American women advocating for reproductive rights. In these pivotal times for the United States, having reporters on the ground is essential. Contributions from supporters enable us to continue sending journalists to cover all facets of the narrative. The Independent is a trusted source for Americans across the political spectrum and, unlike many mainstream media outlets, we don’t impose paywalls that restrict access to our reporting and analysis. We believe that high-quality journalism should be accessible to all, funded by those who can afford to support it. Your contributions truly make a difference.
Marjorie Taylor Greene Opposes Cryptocurrency Bill
On Wednesday, Georgia Republican Representative Marjorie Taylor Greene drew on biblical references to express her objections to a significant cryptocurrency bill, likening its potential consequences to apocalyptic scenarios described in scripture. Greene warned that the GENIUS Act, if it fails to prohibit central bank-issued digital currencies, could lead to catastrophic outcomes. In a post on X, she stated, “I will not vote for this,” emphasizing that a legal ban is the only way to effectively prevent the establishment of a central bank digital currency. She referenced Revelation 13:16-17, which discusses the “mark of the beast” that individuals must possess to engage in commerce, linking this metaphor to the narrative of Armageddon.
Details of the GENIUS Act
The GENIUS Act, short for Guiding and Establishing National Innovation for U.S. Stablecoins Act, aims to establish a regulatory framework for stablecoins—a type of cryptocurrency recognized for its relative stability compared to more volatile digital currencies. Should it be enacted, this would represent the first significant legislation aimed at regulating stablecoins, which have gained traction as a popular form of digital currency. These stablecoins typically maintain a value pegged to stable assets, such as the U.S. dollar. Greene expressed concern that regulating stablecoins through this bill could have dire implications, drawing a stark connection to her apocalyptic views.
Supporters and Opponents of the Bill
Proponents of the GENIUS Act, including former President Donald Trump, argue that it offers a necessary framework to safeguard consumers while promoting the use of stablecoins. Conversely, critics contend that the bill lacks sufficient safeguards and creates potential risks. Greene insists that the legislation should explicitly prohibit the implementation of central bank digital currencies. This concern echoes sentiments from certain lawmakers and cryptocurrency advocates who fear that increased integration of digital currencies into the U.S. financial system could grant authorities, such as the Federal Reserve, the power to centralize control over cryptocurrencies.
The Intersection of Belief and Politics
The decentralized aspect of cryptocurrency is one of its most appealing features to investors. Meanwhile, the House of Representatives is currently deliberating another piece of legislation titled the Anti-Central Bank Digital Currency Surveillance State Act, which aims to address these apprehensions. Greene is known for her outspoken views on the convergence of her religious convictions with her political actions. Shortly before voicing her stance on the GENIUS Act, she conveyed on X that her “blind loyalty and faith” rest solely with God and Jesus Christ. It is widely recognized that lawmakers’ primary allegiance lies with the Constitution, which they vow to uphold upon taking office.
