Congressman Begich Statement on House Passage of GENIUS Act

July 17, 2025 Press Release WASHINGTON, D.C. – July 17, 2025 – Congressman Nick Begich (R-AK) issued the following statement after the House of Representatives passed the Generating Essential National Infrastructure for Universal Stability (GENIUS) Act: “Today, the House took an historic step toward cementing America’s leadership in the future of finance by passing the Generating Essential National Infrastructure for Universal Stability (GENIUS) Act where it will now advance to the President’s desk for signature. The GENIUS Act represents a critical turning point for cryptocurrency and digital assets. By establishing a comprehensive, transparent, and secure regulatory framework for stablecoin issuers, the bill provides the guardrails necessary to unleash innovation while protecting consumers and enhancing our national security. In the Crypto space, the absence of clear rules has allowed America’s competitors an opportunity to move. The GENIUS Act changes that, and sends a clear message to innovators, entrepreneurs, and investors that the United States is serious about remaining the global hub for digital asset development. As digital assets increasingly augment the global economy, this legislation ensures the U.S. is leading. The GENIUS Act balances the need for innovation with smart oversight, preventing bad actors from exploiting gaps in the system while empowering responsible actors to develop innovative financial infrastructure. With the GENIUS Act headed to the President’s desk, we are one step closer to delivering on the promise of a secure and durable financial system that works for all Americans.” ###