A Watershed Moment for U.S. Financial Innovation
By Katie Haun
Today’s Senate passage of the GENIUS Act is a watershed moment.
For the first time, Congress has advanced a comprehensive, bipartisan regulatory framework for stablecoins which lays the foundation for the digital future of the dollar, something many of us in the industry have been advocating for the better part of a decade. We are entering an era where the next generation of financial innovation will benefit from meaningful legal certainty, setting the stage for major institutional participation at a global scale.
But the vote today goes beyond crypto. This also represents a symbolic turning point in how the U.S. makes technology policy. Last summer, when SCOTUS overturned Chevron deference, I called it the most significant court case for technology policy in the U.S. in years and emphasized: “It’s more important than ever for both parties to focus on electing leaders who understand how important frontier tech is to the future of this country and have an affirmative, specific vision for how to legislate.”
The Senate has redoubled our national commitment to financial innovation. GENIUS reflects months of serious, nonpartisan work from leaders like Senators Bill Hagerty, Kirsten Gillibrand, Cynthia Lummis, and Tim Scott and Senate Majority Leader John Thune, who asked tough questions, brought in technical experts, and sought principled outcomes. Their leadership deserves real credit.
This sets a new benchmark for federal crypto policymaking that, like recent court decisions, lays the groundwork for long-term clarity.
