Press Releases

WASHINGTON – Today, Majority Whip Tom Emmer (R-Minn.) announced key stakeholder support for three pieces of legislation being considered by the House for Crypto Week. The bills include Whip Emmer’s Anti-CBDC Surveillance State Act, Financial Services Committee Chairman French Hill’s (R-Ark.) CLARITY Act, and Senator Bill Hagerty’s (R-Tenn.) GENIUS Act.

Here is what stakeholders are saying about Crypto Week in the House:

DeFi Education Fund: “The DeFi Education Fund is excited to see the House of Representatives vote on three important pieces of pro-crypto legislation this week. The GENIUS Act brings much-needed regulatory clarity to stablecoin issuers, and we strongly encourage House leaders to vote to move it to the President’s desk, where it will be signed into law. The CLARITY Act, which provides a framework for regulating digital asset markets, is a meaningful step forward for digital assets in the United States and will head to the Senate next. The Anti-CBDC Surveillance State Act protects against overreach to uphold American values of privacy and free market competitiveness, and will also be considered by the Senate next. We are grateful to the members of Congress who have taken the time to understand that blockchain technology is critical to the future of financial services in the United States, and we look forward to continuing to work with lawmakers to explain the nuances and benefits of decentralized financial infrastructure, and ultimately, to protect American software developers.”

Milken Institute, Michael Piwowar, Executive Vice President of Milken Institute Finance and Nicole Valentine, Director of FinTech: “As the House moves forward on the CLARITY Act, the Senate’s GENIUS Act, and the Anti-CBDC Surveillance State Act, the Milken Institute commends the bipartisan, bicameral collaboration on these landmark bills, which will establish much-needed regulatory guidance for the broader digital asset market structure and stablecoins, as well as safeguard the US financial system’s overall integrity.”

Ripple, Stuart Alderoty, Chief Legal Officer: “As Congress works on historic crypto legislation this week, the stakes couldn’t be higher: 55 million Americans own crypto—and three in four say we need smart, clear laws. These bills are designed to protect the everyday Americans who own and use digital assets. @NatCryptoAssoc will continue to be a trusted resource, educating and demystifying crypto as the landscape evolves.”

Here is what stakeholders are saying about Whip Emmer’s Anti-CBDC Surveillance State Act:

AMAC Action, Andrew J. Mangione Jr., Senior Vice President: “On behalf of AMAC Action, the advocacy affiliate of the Association of Mature American Citizens - with over 2 million members nationwide, I write to express our strong support for the Anti-CBDC Surveillance State Act. This legislation enacts safeguards against government overreach into Americans’ financial privacy which protects seniors from financial surveillance, control, and potential government coercion.”

America First Policy Institute, Matthew Henderson, Senior Director of Government Affairs: “The America First Policy Institute is proud to lead the effort to restore financial freedom and curb this egregious Biden-Harris era overreach by the federal government. A Central Bank Digital Currency remains an enormous threat to our community banking system and small business dynamism. The Anti-CBDC Surveillance State Act follows President Trump’s recent executive order on this issue and the tireless efforts of Whip Tom Emmer (R-MN) that thankfully stops this dangerous behavior. This bill would clarify and reassert that only Congress can authorize and regulate forms of exchange.”

American Bankers Association, Kirsten Sutton, Executive Vice President of Congressional Relations & Legislative Affairs: “The American Bankers Association writes today in support of H.R. 1919, the Anti-CBDC Surveillance State Act. This critical piece of legislation, which was favorably reported out of the House Financial Services Committee on April 2, 2025, would prohibit the Federal Reserve Banks from issuing a retail central bank digital currency (CBDC) directly or indirectly to individuals. It would also prohibit the use of a retail CBDC to implement monetary policy and prohibit the Federal Reserve Board or the Department of Treasury from issuing a CBDC without Congressional approval.”

Americans for Prosperity, James Czerniawski, Senior Policy Analyst: “The Anti-CBDC Surveillance State-Act is critical legislation aiming to block the creation of a central bank digital currency (CBDC) that could be issued directly to individuals or through the banking system. The government has no business creating such a digital currency, as it would crowd out private sector innovation and leadership in this space. Furthermore, a government-issued CBDC raises serious concerns around privacy, since it could empower the government to surveil Americans' financial activity. At its core, the establishment of a government issued CBDC represents a classic threat of the government seeking to significantly increase its control over the economy and simultaneously threaten the privacy interests of millions of Americans. For these reasons, we urge you to support the Anti-CBDC Surveillance State Act.”

Americans for Tax Reform, Grover Norquist, President: “CBDCs not only crowd out private cryptocurrencies, but they also pose an existential threat to consumer privacy protections. Some academics have also posited that CBDCs could be weaponized to collect taxes and enable the IRS to harass small businesses and individuals. CBDCs have no place in American society.” 

America’s Credit Unions, Jim Nussle, President and Chief Executive Officer: “America’s Credit Unions supports the CBDC Anti-Surveillance State Act. The privacy and financial stability risks presented by publicly accessible Central Bank Digital Currency (CBDC) could undermine the role of depository institutions and accelerate disintermediation in the financial sector, events which together could ultimately erode the strength of the U.S. dollar. In some cases, the policy tradeoffs necessary to make CBDC an effective alternative to commercial deposits are difficult to anticipate because underlying regulatory policies such as what balance to strike in terms of protecting consumer privacy, or how to guard against retail deposit substitution are not yet developed. If the Federal Reserve were to offer a CBDC directly to consumers, it would be in essence offering consumer accounts, which would constitute a massive expansion of its mission and threaten to erode the financial system.”

Bank Policy Institute, Greg Baer, President and Chief Executive Officer: “CBDCs have no place in the U.S. financial system, and we’re grateful for Majority Whip Emmer’s efforts to prohibit this costly and fruitless endeavor. Potential disruptions to economic growth, financial privacy, and monetary policy make this an easy pass for a country with a well-functioning payment system and where governmental balance sheet growth is already crowding out private sector lending.”

Blockchain Association, Kristin Smith, Chief Executive Officer: “CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to track all purchases and collect intimate personal details on its citizens. The right to financial privacy is protected by the Constitution. We support the Anti-CBDC Surveillance State Act – legislation aimed at preventing a CBDC from being issued in the United States. Blockchain Association thanks Majority Whip Emmer for his continued leadership on this critical issue.”

Club for Growth, David McIntosh, President: “Allowing the Federal Reserve to issue a digital currency would violate the separation of powers, expose Americans to unconstitutional financial surveillance, crowd out private investment and innovation, increase volatility in financial markets, and threaten persistent inflation. Club for Growth applauds WHIP Emmer and the House of Representatives for their effort to keep President Trump’s promise to protect Americans from the clear and present danger of the big government CBDC scheme.” 

Heritage Action, Steve Chartan, Vice President for Government Relations - KEY VOTE: “CBDCs are another governmental control tactic that would expand federal power and spike U.S. inflation. Heritage Action has consistently opposed CBDCs as these assets threaten the privacy and civil liberties of American citizens. This legislation safeguards Americans from potential government surveillance, control, and political intimidation. Our Sentinels have worked tirelessly to oppose CBDCs and push back against outright federal coercion.”

Independent Community Bankers of America, Rebeca Romero Rainey, President and Chief Executive Officer: “A central bank digital currency (CBDC) would present many of the same objections as FedAccounts. Notably, it would directly compete for bank deposits that fund lending. Any type of direct-to-consumer CBDC could create an outflow of deposits from community banks with an adverse impact on credit availability. ICBA strongly supports H.R. 1919 to prohibit both FedAccounts and a direct-to-consumer CBDC.”

Project for Privacy & Surveillance Accountability (PPSA), Former Representative Bob Goodlatte, Senior Policy Advisor: “PPSA strongly supports the Anti-CBDC Surveillance State Act, and we applaud Rep. Emmer for realizing early that a central bank digital currency would place the government and all its snoops squarely into the everyday business of all Americans. We are grateful that Rep. Emmer, as Majority Whip, educated and inspired his colleagues to pass this bill last year. His legislation also presaged President Trump’s excellent executive order forbidding government agencies from establishing a central bank digital currency. Now is the time to finish the job and put this requirement into law.”

Restore The Fourth, Alex Matthews, National Chair: “Restore The Fourth endorses the Anti-CBDC Surveillance State Act because CBDCs pose an enormous risk to privacy. The U. S. government's grants, loans and fines should be made based on fair, open, and democratically decided rules. A CBDC would give the government vast power to increase or decrease citizens' financial resources at their discretion, based on any pattern of that citizen's spending. Maybe you bought too much fast food, or sent money to the wrong cause, or paid to park outside the wrong clinic or church. If you did, that's none of the government's business. People are finding it hard enough to make ends meet as it is. Your continued survival shouldn't depend on your pattern of spending being acceptable to whatever government is in power at the time. The government should not be able to monitor your financial transactions without a court-approved warrant, based on probable cause that you're involved in an actual crime.” 

Small Business and Entrepreneurship Council, Karen Kerrigan, President and Chief Executive Officer: “Entrepreneurial strength and small business success are tied to a financial system that prioritizes privacy, access, and innovation. SBE Council applauds Congressman Emmer’s leadership in introducing the Anti-CBDC Surveillance State Act, which prevents the Federal Reserve from transforming itself into a retail bank with the power to collect and control Americans’ financial data. By prohibiting both direct and indirect issuance of a central bank digital currency, this legislation protects the financial privacy of entrepreneurs and small businesses while also providing safeguards against government overreach. A government-issued CBDC could expose entrepreneurs to political shenanigans and intimidation, potentially choking off their ability to conduct business. Moreover, the legislation ensures that digital innovation remains driven by the free market and private sector, where it thrives. We urge Congress to stand with entrepreneurs and all consumers by passing this crucial bill.”

The Digital Chamber: “The Digital Chamber applauds Whip Emmer for his leadership in advancing the Anti-CBDC Surveillance State Act. Financial privacy is a cornerstone of American freedom, and this legislation ensures that the decision to adopt a Central Bank Digital Currency stays where it belongs - with Congress and the American people. We urge swift, bipartisan passage of this bill to safeguard liberty and preserve the role of the private sector in digital innovation.”

Comprehensive list of stakeholder support for H.R. 1919, the Anti-CBDC Surveillance State Act: 

AMAC Action; America First Policy Institute; American Bankers Association; Americans for Prosperity; Americans for Tax Reform; America’s Credit Unions; Bank Policy Institute; Blockchain Association; Center for a Free Economy; Center for Freedom and Prosperity; Crypto Council for Innovation; Club for Growth; Consumer Bankers Association; DeFi Education Fund; Heritage Action - KEY VOTE; Independent Community Bankers of America; Project for Privacy & Surveillance Accountability; Restore the Fourth; Ripple; Small Business & Entrepreneurship Council; The Digital Chamber

Here is what stakeholders are saying about Chairman Hill’s Digital Asset Market Clarity (CLARITY) Act of 2025: 

Anchorage Digital, Nathan McCauley, Co-Founder and Chief Executive Officer: “The CLARITY Act is a meaningful step toward stronger digital asset market structure. Grateful to House Committee on Financial Services Chairman French Hill and Representative Bryan Steill for leading on this. We support efforts to bring regulatory clarity and look forward to continued engagement as the bill evolves.”

Blockchain Association, Summer Mersinger, Chief Executive Officer; Crypto Council for Innovation, Ji Hun Kim, President and Acting Chief Executive Officer; The Digital Chamber, Cody Carbone, Chief Executive Officer: “We are writing today as the unified voice of the United States digital asset industry to encourage swift passage of the Digital Asset Market Clarity (CLARITY) Act. We respectfully urge all Members of the House of Representatives to stand with their constituents and vote yes on this important legislation. The CLARITY Act represents meaningful progress toward the regulatory certainty needed for our industry to foster innovation and for blockchain technology to thrive in the U.S. Advancing this bipartisan market structure legislation sends a strong message that the U.S. is committed as the global leader in digital assets. We are encouraged by the inclusive and collaborative effort that has shaped this legislation, because this work doesn’t happen overnight.”

Club for Growth, Scott Parkinson, Vice President of Government Affairs - KEY VOTE: “Club for Growth has long-supported policies that embrace innovation and economic opportunity in America. The CLARITY Act takes the next step forward in the evolving and exciting cryptocurrency policy space to enable a comprehensive market structure framework for digital assets. This bill creates a regulatory framework for digital assets, confronting outdated regulatory authorities from the Security and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The new delineated and explicit structure between the SEC and CFTC will make clearer the regulatory structure for innovators, investors, and consumers of digital assets. The bill also includes consumer protections to shield market participants from fraud and abuse. Finally, the bill aims to protect self-custody of a user’s digital assets by affirming individuals’ right to lawful custody and right to transact with their own digital assets. Club for Growth encourages all Representatives to vote YES on the CLARITY Act. Upon House passage, Club for Growth reserves the right to work with Senators to protect key provisions and to improve upon the legislation.”

Coinbase, Faryar Shirzad, Chief Policy Officer: “Clear, consistent rules from Congress are essential to protecting consumers and achieving crypto’s potential. We applaud the leadership of the bill’s sponsors and cosponsors, and we urge all Members of Congress to support the CLARITY Act and its vision for a pro-innovation, pro-consumer framework that secures American leadership in the future of finance.”

Coin Center, Peter Van Valkenburgh, Executive Director: “Coin Center supports the passage of the Digital Asset Market Clarity (CLARITY) Act of 2025 and will continue engagement with Congress to ensure that final market structure legislation upholds Coin Center’s priorities. CLARITY is a thoughtful and comprehensive framework for the regulation of digital asset markets. Coin Center has supported and encouraged the creation of a de novo federal regulatory regime for trusted entities in the cryptocurrency ecosystem since 2018; we understand how long the road to CLARITY has been and eagerly await its passage into law.”

Decentralization Research Center, coalition of 50 organizations: “The CLARITY Act establishes a much-needed standard for evaluating when a digital asset has met a threshold to justify its transition from security to commodity — an essential step for effective market structure legislation. We look forward to engaging further to ensure that blockchain legislation supports decentralization, responsible innovation, and consumer protection to further establish U.S. leadership in blockchain technology.”

FIA, Walt Lukken, President and Chief Executive Officer: “FIA appreciates US House Financial Services Committee Chair French Hill and House Agriculture Committee Chair G.T. Thompson for advancing the bipartisan CLARITY Act. This legislation is an important step in providing legal and regulatory certainty for the crypto and financial services industry. We believe the listed and cleared derivatives markets - and their regulatory framework - have much to contribute to this debate, and we look forward to reviewing the Act and providing our expertise.”

PayPal, May Zabaneh, Vice President of Blockchain, Crypto, and Digital Currencies: “The United States benefits from thoughtful regulation of digital assets and robust standards for stablecoin issuers. The CLARITY Act and GENIUS Act provide a meaningful framework to continue America's leadership in this critical industry, and we strongly support their passage this week. These Acts will foster the next era of commerce, where stablecoins enable instant, cost-effective cross-border payments, streamline business-to-business transactions, and provide the stability necessary for mainstream adoption of digital payments. By acting decisively now, we ensure American innovation drives the transformation of global financial services and digital commerce. We thank the Members of Congress and their staff who have worked tirelessly to make this vision a reality.”

Robinhood, Dan Gallagher, Chief Legal Officer: “Great to see @FinancialCmte @HouseAgGOP advance this important piece of bipartisan legislation. We look forward to working with the committees in the House and the Senate to get this across the finish line and provide lasting clarity for the crypto industry.”

Stand with Crypto, coalition of 65 organizations - KEY VOTE: “Crypto developers need clear guidance and safeguards to create blockchain systems where users control their digital assets; consumers need consistent standards for transparency, security, and accountability that shields them from fraud, loss, and abuse; and the current lack of standardized rules hinders institutional adoption and innovation, pushing talent and businesses to more crypto-friendly jurisdictions abroad. The CLARITY Act addresses these issues through its regulatory framework, including clear roles and responsibilities for the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). The CLARITY Act will not only enable and empower developers to innovate, but also protect consumers through choice, foster greater participation in the blockchain economy, and strengthen national security. The undersigned group of 65 crypto organizations represent over 6,100 jobs across 21 states, and they support Stand With Crypto’s efforts on behalf of American crypto owners to champion clear, common-sense regulations for the crypto industry. We ask that you support the CLARITY Act and unlock the crypto industry’s potential.”

The Digital Chamber: “The CLARITY Act represents a major step forward in delivering the regulatory certainty necessary for the United States to lead in digital asset innovation. Without clear market structure legislation, the U.S. will continue to fall behind global competitors who are rapidly establishing workable regulatory frameworks. We commend Chairman French Hill, Chairman G.T. Thompson, Ranking Member Angie Craig, and Representatives Don Davis, Ritchie Torres, and Josh Gottheimer, along with their dedicated staff, for their bipartisan leadership and tireless commitment to advancing this critical legislation. The Senate must now act with urgency to build on this progress, bolster market confidence, and ensure the U.S. remains the premier destination for responsible innovation.”

The Institute of Internal Auditors, Anthony J. Pugliese, President and Chief Executive Officer: “The bipartisan Digital Asset Market Clarity (CLARITY) Act represents an important step forward in establishing a clear, consistent, and balanced digital asset framework in the United States. As the professional association representing internal auditors, The IIA supports the legislation’s emphasis on establishing sound governance and risk management processes at digital commodity exchanges. In particular, Sections 404 and 406 of the CLARITY Act contain essential investor protections that will strengthen American confidence in the emerging digital asset marketplace. The IIA looks forward to continued engagement with congressional leaders of both parties to ensure this critical legislation advances and is passed into law.”

Comprehensive list of stakeholder support for H.R. 3633, the CLARITY Act: 

1kx Network; 404 DAO; Alabama Blockchain Alliance; Aleo Foundation; Alongside Finance; American Consumer and Investor Institute; Americans for Prosperity; Andreessen Horowitz (a16z); Anchorage Digital; Aragon Foundation; Archetype; Atlanta Blockchain Center; ATX DAO; ATX Women in Web3; Awen; Aztec Labs; Aztec Network; Blockchain Association; Blockchain Capital; Bright Point Law; Brookwood PC; Buildbox; Building, Inc; Chamber of Progress; City Nouns DAO; Club for Growth – KEY VOTE; CODE TO INSPIRE, INC; Coinbase; Coin Center; Consensys; CornerMarket; Cowrie; COZ; Crypto Council for Innovation; Dapper Labs; Dapphub; Daylight; Decentralization Research Center; DeFi Education Fund; Delphi Ventures; Detroit Blockchain Collective; Detroit Ledger Technologies; Devils DAO; DLx Law, DNA, Do You Like It, Inc; doggy fi corporation; DoTheySupportIt; Dragonfly; Electric Capital; Endaoment; Espresso Systems; ETHDenver; Etherealize; Farcaster; FIA; Gensyn; Groma; Halliday; Haun Ventures; Hedera; Injective Labs; Inoa; Interchain Foundation; International Swaps and Derivatives Association, Inc.; Interop Labs; Jason Paragas; LayerZero; LBank Labs; LearnVille; LeXpunK; Lido; Maestro; Matter Labs; Medici Land Governance; Merit Systems; MetaLeX Labs; Midwest Blockchain Conference; Milken Institute; Minnesota Blockchain Initiative; Mysten Labs; NEAR Foundation; NEED-AID; NFNTE Capital; Niural; OpenSea; OPLabs, Optimism Foundation; PayPal; Prevail Coffee; Project Pi Labs; Prometheus Productions LLC; Proximity Labs; Public State; Purpose for Profit; Radio Aktiv Ink; Rare Network; Rayo Capital Group; Ready Player Me; Ripple; Red Rug Edutainment LLC; Resourceful Nonprofit; RewardedTV; Robinhood; Scene Infrastructure Company; Sei Foundation; Sei Labs; Shift4; Skylark; Sky Mavis; Stand with Crypto - KEY VOTE; Story Protocol; SUNN Blockchain; Syndicate; Tally; The Boston Blockchain Association; The Digital Chamber; The Graph Foundation; The Institute of Internal Auditors; The Smart Economy Podcast; Neo News Today; The Venture Dept.; Thurman Labs; Traders Guild; Varia Law; XMTP; Vegas Crypto Group; We3bDC; Web3 Packs; WhereArtWorks; Wildflower Wealth; Wisconsin Blockchain Business Council (WBBC); ZeroProxy (dba Yield Horizon)

Here is what stakeholders are saying about Senator Hagerty’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act:

a16z, Chris Dixon, Managing Partner: “It’s time to pass bipartisan stablecoin legislation. The GENIUS Act will protect consumers and increase transparency--a significant improvement on the status quo. We support any legislation that achieves that progress while safeguarding the core benefits of blockchain technology — empowering peer-to-peer digital economies to operate without intermediaries. The bill isn't perfect and will require refinements to achieve these goals, but it is essential that the Senate complete its bipartisan work on the GENIUS Act. Moving quickly on this and a market structure bill would provide long-overdue clarity for consumers and the industry so that we entrench dollar dominance and the U.S. remains the leader in blockchain technology.”

Bitcoin Policy Institute, Matthew Pines, Executive Director: “In today's more competitive global environment, the United States must leverage digital networks and financial innovation to secure strategic advantage and advance the power of open systems. The emergence of a smartly regulated stablecoin ecosystem presents a unique opportunity to upgrade America's financial architecture and expand the dollar network. Alongside forward-thinking policies like the Strategic Bitcoin Reserve, the GENIUS Act will help kick-start a flywheel of innovation and adoption of open monetary networks that embed our values and reinforce our financial dominance.” 

Blockchain Association, Kristin Smith, Chief Executive Officer; Crypto Council for Innovation, Ji Kim, Acting Chief Executive Officer; and The Digital Chamber, Cody Carbone, Chief Executive Officer: “We, the CEOs of the nation’s three leading digital asset trade associations, jointly urge the Senate to bring the GENIUS Act to the floor for debate this week. A comprehensive regulatory framework will enable widespread and increased stablecoin adoption, which is essential to cementing U.S. dollar dominance in the digital economy. We are grateful for the significant strides the GENIUS Act has already made, and we hope to see meaningful refinements to further ensure U.S. leadership in digital finance. We respectfully urge Senators to vote YES on the motion to proceed to consideration of the GENIUS Act, and move us one step closer to enacting a bipartisan stablecoin framework. The GENIUS Act provides an opportunity to level the playing field for bank and regulated non-bank actors competing in payments and money movement.” 

Circle, Dante Disparte, Chief Strategy Officer and Head of Global Policy: “The emergence of payment stablecoins linked to U.S. dollars have proven to not only be a breakthrough in crypto markets, but a breakthrough in global banking and payments. The void of U.S. regulatory leadership must be filled and harmonized internationally. The passage of a national framework for dollar-denominated payment stablecoins is the perfect vehicle to assure the U.S. wins the digital currency space race. Chairman Tim Scott’s principled and bipartisan leadership should be commended and the President’s call to action for payment stablecoin legislation should be urgently answered.”

Club for Growth, Scott Parkinson, Vice President of Government Affairs - KEY VOTE: “The Club for Growth urges all Senators and Representatives to vote YES on the S. 1582 – GENIUS Act. The results of this vote will be included in the Club for Growth Foundation’s 2025 congressional scorecard…Even though the bill creates a new regulatory structure for stable coins, this legislation creates more freedom and innovation in financial transactions. Stablecoins are a financial vehicle that provides consumers and businesses more choices outside of traditional, legacy financial institutions.”

Electronic Transactions Association, Patrick Russell, Vice President of Government Affairs: “On behalf of the Electronic Transactions Association (ETA), I write to encourage the House in its efforts to move S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act of 2025). This legislation establishes a much-needed regulatory framework for payment stablecoins – fostering responsible innovation while safeguarding financial stability – and carries the potential to positively complement an already healthy offering of payments solutions.”

Fidelity Investments: “Fidelity Investments applauds the US House of Representatives for advancing the GENIUS Act to adopt a regulatory framework for payment stablecoins. It provides flexibility, promotes innovation, and ensures US leadership by establishing clear and comprehensive guardrails that will foster responsible growth.”

International Franchise Association, Matt Haller, Payment Choice Coalition President and President and Chief Executive Officer: “The GENIUS Act will foster innovation and expand payment options by promoting the growth of a secure, efficient, and competitive payment ecosystem. This legislation will provide the necessary regulatory structure to support the development and use of stablecoins, ensuring consumers have access to cutting-edge payment methods while offering small businesses, including local franchises, the stability and transparency required to integrate stablecoins as a payment option.”

Kraken, Jonathan Jachym, Global Head of Policy and Government Relations: “We commend the Senate for advancing this important piece of an effective framework for US crypto regulation. Other major economies around the world are years ahead in putting clear rules in place for stablecoins and centralized intermediaries. After many years of legislative progress, it is critical that US lawmakers come together in the coming months to finalize stablecoin and market structure bills by August.”

Multicoin Capital, Kyle Samani, Co-Founder and Managing Partner: “Stablecoin legislation is in the national security and economic interests of all Americans. It is an unlock for faster, better payment infrastructure and collateral management. We thank Chairman Scott and Senators Hagerty, Lummis, Gillibrand and Alsobrooks for leading the GENIUS Act charge.”

National Association of Convenience Stores, Doug Kantor, General Counsel: “The GENIUS Act presents a real opportunity for innovation in payments. The technology to make payments far more efficient exists today, but to get there, Main Street needs to know stablecoin has responsible regulation behind it and we need a competitive market. We urge passage of the GENIUS Act and additional reforms so that the American economy benefits.”

National Grocers Association, Chris Jones, Merchants Payments Coalition Executive Committee Member and Senior Vice President of Government Relations and Counsel: “The U.S. payments system desperately needs innovation, and a sound regulatory framework for stablecoins is one key step in achieving that. For too long the dominant payments industry players have used their positions to stop innovation and competition. The GENIUS Act is a good step on the road to positive change.”

National Venture Capital Association, Bobby Franklin, President and Chief Executive Officer: “We urge the Senate to continue working in good faith to resolve outstanding differences and advance the bipartisan GENIUS Act. U.S. leadership in the digital economy depends on establishing a clear and consistent regulatory framework for stablecoins that fosters innovation, empowers entrepreneurs, and helps build the next generation of financial technologies. A strong stablecoin framework will also support the venture capital industry’s efforts to back groundbreaking companies and strengthen America’s global financial technology leadership.”

PayPal, May Zabaneh, Vice President of Blockchain, Crypto, and Digital Currencies: “The United States benefits from thoughtful regulation of digital assets and robust standards for stablecoin issuers. The CLARITY Act and GENIUS Act provide a meaningful framework to continue America's leadership in this critical industry, and we strongly support their passage this week. These Acts will foster the next era of commerce, where stablecoins enable instant, cost-effective cross-border payments, streamline business-to-business transactions, and provide the stability necessary for mainstream adoption of digital payments. By acting decisively now, we ensure American innovation drives the transformation of global financial services and digital commerce. We thank the Members of Congress and their staff who have worked tirelessly to make this vision a reality.”

Retail Industry Leaders Association, Austen Jensen, Executive Vice President of Government Affairs: “Retailers urge the House to approve the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, legislation that has the potential to lead to frictionless payments and help millions of Americans gain greater access to the financial system. The GENIUS Act lays out the proper guardrails for more innovation and competition in the payments arena. RILA congratulates all of the leading voices in the House and encourages members to join the bipartisan support the bill received in the Senate.”  

Stripe: “Stripe supports the development of a clear, consistent regulatory framework for stablecoins and welcomes the growing bipartisan interest in this issue. We appreciate the leadership shown by the Senate Banking Committee and encourage continued efforts to advance legislation that safeguards innovation and strengthens U.S. competitiveness in financial services. Stripe stands ready to provide input and technical assistance as Congress works to craft durable, innovative, and forward-looking policy solutions.”

The Digital Chamber: “The GENIUS Act is foundational to securing U.S. dollar dominance and unleashing stablecoin innovation across American markets. This landmark legislation positions our country to lead globally in digital finance, protecting consumers and empowering businesses. We look forward to an overwhelmingly bipartisan vote in the House and President Trump signing the GENIUS Act into law, ensuring stablecoins become a cornerstone of American economic strength and innovation.”

Comprehensive list of stakeholder support for S. 1582, the GENIUS Act: 

a16z; Bitcoin Policy Institute; Blockchain Association; Circle; Club for Growth - KEY VOTE; Crypto Council for Innovation; DeFi Education Fund; Electronic Transactions Association; International Franchise Association; Kraken; Merchant Payments Coalition; Multicoin Capital; National Association of Convenience Stores; National Grocers Association; National Venture Capital Association; PayPal; Retail Industry Leaders Association; Ripple; Stripe; The Digital Chamber

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