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.)

This vote was technically for cloture, meaning the bill couldn’t be halted by a filibuster, but it’s the only vote that mattered. The official vote, now scheduled for Thursday, is only a formality, and I expect several of these senators to vote against it so they can pretend they aren’t monumentally corrupt.

The Crypto Sixteen are the following: Kirsten Gillibrand (D-NY), who co-sponsored the bill, Adam Schiff (D-CA), Angela Alsobrooks (D-MD), Mark Warner (D-VA), Ruben Gallego (D-AZ), John Fetterman (D-PA), Cory Booker (D-NJ), Catherine Cortez Masto (D-NV), Ben Ray Luján (D-NM), Elissa Slotkin (D-MI), Maggie Hassan (D-NH), Martin Heinrich (D-NM), Jon Ossoff (D-GA), Alex Padilla (D-CA), Jacky Rosen (D-NV), and Lisa Blunt Rochester (D-DE). Every one of them ought to be primaried in their next election.

Sen. Elizabeth Warren (D-MA), who has more experience in financial regulation than anyone in Congress, outlined the problems in a speech on the Senate floor. First, the bill gives a clear green light to Trump’s world-historical corruption. “Passing this bill means that we can expect more anonymous buyers, big companies, and foreign governments to use the president’s stablecoin as both a shadowy bank account shielded from government oversight and as a way to pay off the president personally. For crooks, it’s a two-for-one,” she said.