Lummis Leads Colleagues in Urging Treasury to Preserve State Authority Under GENIUS Act

Home About About Cynthia Committee Assignments Media Press Releases Press Contact Videos Services Visiting D.C. Federal Funding Opportunities Internships Congressional Award Academy Nominations Flag Requests Issues All Wyoming, All the Time Energy & Natural Resources Agriculture Financial Innovation & Digital Assets Transportation & Infrastructure National Security & Veterans Healthcare Senate Western Caucus Legislation Sponsored Legislation Co-Sponsored Legislation Voting Record Newsletter Signup Contact Me Contact Form Scheduling Requests Press Contact Blow the Whistle Follow Follow Follow Lummis Leads Colleagues in Urging Treasury to Preserve State Authority Under GENIUS Act June 16, 2026 Washington D.C. — Senate Banking Subcommittee on Digital Assets Chair Cynthia Lummis (R-WY) led Senators Kirsten Gillibrand (D-NY), Bill Hagerty (R-TN), Angela Alsobrooks (D-MD), Kevin Cramer (R-ND), Catherine Cortez Masto (D-NV), and Pete Ricketts (R-NE) in sending a letter to Treasury Secretary Scott Bessent urging the Treasury Department to preserve the role of states in chartering and supervising payment stablecoin issuers. “States must be able to develop and seek certification of stablecoin regulatory regimes as demand for these charters materializes and as legislative schedules permit,” the senators wrote . “State legislative processes vary significantly, and in some cases operate on biennial cycles. A flexible, ongoing certification framework is necessary to ensure that States can participate meaningfully over time and that innovation and competition are not constrained by timing misalignment.” Full letter text can be found here. Facebook X Instagram