After a flood of crypto industry campaign cash, the US Senate is poised to pass a financial deregulation bill ensuring that when a bank goes out of business, the savings of cryptocurrency owners would be made whole before those of other bank customers.

During a bank collapse, the language buried deep in the bill could effectively require financial institutions to drain money from regular depositors’ savings and checking accounts and give it to cryptocurrency investors to reduce those investors’ losses.

The Senate legislation, known as the GENIUS Act, aims to establish a light-touch legal framework to allow banking and nonbanking institutions, such as cryptocurrency exchanges and even social media companies, to issue a form of cryptocurrency called stablecoins. The bill comes after pro-crypto interests spent at least $4 million since January lobbying Congress, the White House, and regulators on the bill and other matters, disclosures show.