Washington moves on crypto: Stablecoin and blockchain bills signal regulatory momentum
The US Senate advanced the GENIUS Act with a 66–32 vote, establishing a regulatory framework for stablecoins. The act defines payment stablecoins and outlines who can issue them, including bank subsidiaries and approved non-bank entities. Bipartisan support indicates significant congressional backing for the bill. Concurrently, the Blockchain Regulatory Certainty Act was reintroduced by Representative Tom Emmer, providing legal clarity for developers and service providers who do not handle customer funds, clarifying they are not classified as money transmitters. With rising crypto adoption, particularly among minority communities, there is increasing pressure for regulatory clarity. The push for broader market structure reform is expected to be complex, emphasizing the importance of public engagement in the legislative process.
