Supported by bipartisan law and clear surveillance, Genius Law promotes stable innovation, protects consumers, attracts investment and strengthens US leadership in the global financial race.
The act of genius was defended as a catalyst for Stablecoin Innovation and US financial leadership
The debate over Stablecoin regulation has intensified as US banks and digital asset companies collide with the recently enacted genius law. The Blockchain Association announced on September 29 that it is committed to defending the law and has committed to describing it as a monetary policy landmark that will bring clarity to the digital asset market and strengthen the country’s position in global innovation.
In Senate Banking Committee Chairman Tim Scott, ranking member Elizabeth Warren, House Financial Services Committee Chairman French Hill, and Ranking member Maxine Waters, ranking member, wrote: “We are a great leader in the world.
We write to express our strong and continuing support for genius behavior and highlight why this bipartisan achievement must remain the foundation of US digital asset policy.
The group highlighted the law and called for strict one-on-one preparation, transparency and federal oversight as the first comprehensive digital assets law was signed in effect. According to the association, the framework ensures both consumer protection for entrepreneurs and regulatory certainty, encouraging them to be built within the United States rather than overseas.
The letter also rejected discussions from major banks. Major banks warn that stubcoins can emit deposits, limit loans and reduce customer interest revenues. The association refuted that such claims were misleading, comparing them to just $277 billion in global stubcoin, referring to the $18 trillion held in US bank deposits. A recent study cited by the group further found no link between Stablecoin recruitment and community bank deposit outflows.
The association emphasizes the importance of stability:
The choice is clear. Genius is a resolved law. It’s working. And it must be defended.
While traditional banks portray stubcoins as a potential risk, digital asset advocates claim to represent progress towards faster payments, reduced costs and wider range of credit access. The association concluded that the reversal of genius undermines investment and innovation, and warned that the US must accept the clarity of this regulation in order to remain competitive in global finance.
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