Crypto Entrepreneurs Are Fleeing America, But We Can Bring Them Back
The bipartisan GENIUS Act has passed, establishing the first federal framework for payment stablecoins in the U.S. This legislation aims to enhance consumer protection, national security, and American competitiveness in financial innovation. Previous regulatory approaches under the Biden administration have created uncertainty and legal challenges for entrepreneurs in the digital asset space, leading to a decline in U.S. leadership in finance. Other countries, like the UK and Japan, are seizing the opportunity to advance their own digital asset frameworks. The U.S. Senate is working on market structure legislation to provide clarity for investors and the digital asset industry, emphasizing the need for the U.S. to remain a leader in financial innovation. The moment is critical for shaping the future of the U.S. financial system.
