It’s official. As my colleague David Dayen and I both predicted, enough Democratic senators have voted for a crypto “regulation” bill (called the GENIUS Act), basically written by the industry and Donald Trump’s minions, that it passed easily on Monday. If anything, it was even worse than I expected—just nine Democrats were needed to get to the necessary 60 votes, but 16 voted for it. (Two Republicans, Sens. Rand Paul of Kentucky and Jerry Moran of Kansas, voted against it.)