Washington moves on crypto: Stablecoin and blockchain bills signal regulatory momentum

As the US Senate advances the GENIUS Act and lawmakers reintroduce the Blockchain Regulatory Certainty Act, Washington is finally stepping up to the plate on crypto.

Breaking down GENIUS

The GENIUS Act — short for “Guiding and Establishing National Innovation for U.S. Stablecoins Act” — seeks to answer foundational questions around stablecoin issuance and oversight.

“It defines this idea of a payment stablecoin,” explained Rashan Colbert, director of US policy at the Crypto Council for Innovation, in this week’s interview. Colbert emphasized that the bill doesn’t stop at definitions.

“It outlines in a robust way just who’s allowed to do this and what they need to look like.”