GENIUS Act Gains Support from a16z’s Chris Dixon and Coinbase’s Brian Armstrong

Main business figures, resembling Chris Dixon and Brian Armstrong, have publicly backed the bipartisan Guiding and Establishing Nationwide Innovation for U.S. Stablecoins (GENIUS) Act.

This endorsement comes forward of a key Senate vote scheduled for this Thursday.

Trade Help

Launched in February 2025 by Senator Invoice Hagerty, the GENIUS Act is co-sponsored by Senate Banking Committee Chairman Tim Scott, alongside Senators Kirsten Gillibrand and Cynthia Lummis. The invoice’s most important aim is to ascertain a federal licensing and supervisory framework for cost stablecoins and the businesses that problem them. a16z’s Chris Dixon praised the proposal, saying:

“The GENIUS Act will shield shoppers and enhance transparency–a big enchancment on the established order.”

Whereas he admitted the invoice isn’t good and can want adjustments, he confused how vital it’s for the Senate to observe by means of on its bipartisan work.

Dixon additionally famous that shifting rapidly on this laws and a market construction invoice would lastly give each shoppers and companies the clear guidelines they’ve been ready for. In keeping with him, this could assist the U.S. keep forward in blockchain management.

Equally, Coinbase CEO Brian Armstrong described the week’s legislative agenda as a serious alternative for Congress to advance each stablecoin and broader market construction laws.

“We strongly assist the Senate beginning debate on the GENIUS Act—and we’d like 60 votes to get there,” he mentioned.

He additionally welcomed Home efforts to construct on the momentum created by the Monetary Innovation and Expertise for the twenty first Century (FIT21) Act. In keeping with him, pressing, coordinated motion from each is vital if complete laws is to be handed into legislation earlier than August.

The GENIUS Act outlines who’s eligible to problem cost stablecoins and units clear standards for turning into a federally permitted issuer. The proposed guidelines encourage issuers to acquire correct licensing whereas additionally establishing guidelines for the way international and unlicensed entities can function inside the U.S. market. By doing so, it plans to create a extra constant and controlled setting for stablecoins nationwide.

Legislative Efforts

The initiative is a part of a broader motion towards complete crypto regulation. On April 2, the Stablecoin Transparency and Accountability for a Higher Ledger Economic system (STABLE) Act of 2025 was handed by the Home Monetary Companies Committee.

In keeping with Bryan Steil, Chair of the Digital Property, Monetary Expertise, and Synthetic Intelligence Subcommittee, it gives the Workplace of the Comptroller of the Forex (OCC) the authority to approve and supervise federally certified nonbank stablecoin issuers.

The laws additionally goals to guard shoppers, strengthen the U.S. greenback’s international function, and assist the expansion of Web3 companies in america.