Representatives from the digital asset and blockchain industry have expressed their support for the GENIUS Act, a legislative effort aimed at establishing a regulatory framework for stablecoins. In a joint statement, they emphasized the importance of maintaining focus on creating effective oversight as the bill progresses through amendments.
The statement was signed by Blockchain Association CEO Summer Mersinger, Crypto Council for Innovation President & Acting CEO Ji Hun Kim, DeFi Education Fund Executive Director & Chief Legal Officer Amanda Tuminelli, and The Digital Chamber CEO Cody Carbone. They collectively highlighted the bipartisan efforts already invested in the bill and expressed eagerness to collaborate with policymakers to preserve its momentum.
"We, the undersigned representing the digital asset and blockchain industry in Washington, recognize the GENIUS Act as critical legislation that aims to create a clear and effective regulatory framework for stablecoins," they stated. "As the bill continues through the amendment process, we respectfully urge lawmakers to remain committed to its central goal: providing a targeted and comprehensive approach to stablecoin oversight."
The signatories are hopeful that their engagement will help ensure that final legislation reflects these objectives.
