Gillibrand Statement On House Passage Of The Genius Act

Jul 17, 2025
Today, U.S. Senator Kirsten Gillibrand applauded House passage of theGENIUS Act, landmark legislation that will establish a regulatory framework for stablecoins. As the lead Democratic senator on the bill, Senator Gillibrandshepherded the legislationto passage in the Senate in June.
“House passage of theGENIUS Actis a historic milestone in our bipartisan effort to regulate stablecoins. This bill will empower American businesses and consumers and enable them to take advantage of the next iteration of financial innovation,”said Senator Gillibrand.“A result of serious bipartisan negotiations, theGENIUS Actwill protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar. This bill targets illicit finance, places limitations on Big Tech, puts in place ethical guardrails, and strengthens national security. TheGENIUS Actis landmark legislation that will help maintain American global competitiveness, now and into the future.”
Senator Gillibrand, alongside Senators Hagerty (R-TN), Scott (R-SC), Lummis (R-WY), and Alsobrooks (D-MD),introduced the GENIUS Actearlier this year. The billpassed out of the Senate Banking Committeewith bipartisan support in March 2025, andthe Senate passed the full bill with strong bipartisan supportin June 2025.
Senator Gillibrand has been working on cryptocurrency legislation since 2022, when she and Senator Lummis introduced theLummis-Gillibrand Responsible Financial Innovation Act, a comprehensive bipartisan framework for cryptocurrency regulation. The framework was re-introduced in 2023. In 2024, Gillibrand and Lummis alsointroduced a stablecoin billthat included many of the provisions that passed in theGENIUS Act.
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