Blockchain Association Urges House to Pass GENIUS Act
Blockchain Association CEO Summer Mersinger urged the House of Representatives to swiftly pass the Guiding and Establishing National Innovation for U.S. Stablecoins Act ("GENIUS Act").
In a letter to House Speaker Mike Johnson and Minority Leader Hakeem Jeffries, Ms. Mersinger described the GENIUS Act as a "historic, bipartisan step toward regulatory clarity" for payment stablecoins. She stated that the legislation provides "clear rules and strong consumer protections," and would "reinforce [] the primacy of the U.S. dollar," promote "responsible innovation," and secure America's leadership in the next era of global finance.
Ms. Mersinger emphasized that stablecoins are already reshaping the payments landscape by providing "faster, cheaper, and more inclusive services." She cautioned that, without federal legislation, "the U.S. risks ceding ground to foreign regimes" that are setting their own rules. She stated that the GENIUS Act "advances America’s strategic interests" and strengthens its position as a global leader in both technology and financial innovation.
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