The GENIUS Act aims to pass legislation allowing cryptocurrency and blockchain companies to obtain a "passport" to operate freely across the United States. Introduced to promote innovation and clarity in the crypto space, the bill would create a federal framework for digital asset regulation. This would enable companies to operate nationwide without navigating varying state laws. The GENIUS Act seeks to foster growth in the crypto industry while ensuring consumer protection. By providing regulatory clarity, the bill could attract investment and talent, positioning the US as a leader in the rapidly evolving blockchain and cryptocurrency landscape. Supporters see it as a crucial step.
