Digital Asset Industry Leaders Push for Senate Debate on GENIUS Act
Leaders of three digital asset trade associations urged the Senate to bring the GENIUS Act—a bill to create a regulatory framework for stablecoins—to the floor for debate this week. The statement comes after Senate Majority Leader John Thune moved to fast-track the bill over new objections from Senate Democrats. (See previous coverage.)
In their joint statement, Kristin Smith of the Blockchain Association, Ji Kim of the Crypto Council for Innovation and Cody Carbone of the Digital Chamber said the GENIUS Act "will enable widespread and increased stablecoin adoption, which is essential to cementing U.S. dollar dominance in the digital economy." The CEO's said revisions to previous versions of the bill were "significant," but noted they "hope to see meaningful refinements to further ensure U.S. leadership in digital finance."
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