Gallego Statement on GENIUS Act

WASHINGTON –Today,Senator Ruben Gallego (D-AZ), Ranking Member of the Subcommittee on Digital Assets, voted in support of theGuiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Actwhen it passed out of the Banking, Housing, and Urban Affairs Committee.
“It’s clear that digital assets are here to stay. It’s Congress’s job to come together in a bipartisan fashion to ensure this emerging sector is well regulated and safe for consumers,”said Senator Gallego.“While this bill is not perfect, we have made many improvements through our bipartisan committee work – including better protections for customers in the event of bankruptcy, addressing national security risks, and strengthening guardrails to preserve financial stability – and I believe it is a step in the right direction. I look forward to continuing to improve on this bill as it moves through the Senate.”
3/13/25