Senate Passes GENIUS: Now It's Time for House Leadership

The U.S. Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a major milestone in establishing clear regulatory frameworks for digital assets. This bipartisan achievement brings us significantly closer to providing the regulatory certainty that builders, consumers, and innovators need to thrive.

‍

We are grateful to the Senate leaders and staff who worked tirelessly to advance this critical legislation. 

‍

"The Senate's bipartisan support for the GENIUS Act underscores Congress's commitment to developing smart regulation that fosters innovation while protecting consumers," said Solana Policy Institute CEO Miller Whitehouse-Levine. "This legislation will establish clear rules for stablecoins, unlocking tremendous potential for more efficient payments and financial services. We applaud the Senators and their staff who have championed this critical framework and look forward to swift action in the House to get this across the finish line."

‍

Why Stablecoins Matter for America

‍

Stablecoins aren't just another crypto innovation—they are digital infrastructure that make payments faster, cheaper, and more accessible. For American consumers and businesses, this means reduced transaction costs and 24/7 global payment capabilities. For U.S. economic leadership, stablecoins expand the reach of the dollar worldwide, strengthening America's position in the global financial system.

‍

The GENIUS Act creates the regulatory framework needed for this technology to flourish responsibly in the United States. By establishing clear licensing requirements and consumer protections, this legislation ensures stablecoins can operate safely, while maintaining the innovation that makes them powerful.

‍

Time for House Leadership

‍

With international competitors already implementing their own digital asset frameworks, speed matters. The House now has the opportunity to complete this important work and position America as the clear leader in digital financial innovation.

‍

The momentum is strong, the bipartisan support is clear, and the benefits are compelling. Let's get this done and secure America's leadership in the digital economy.