Today is a day I have been working toward for over 4 months. After months of intense negotiations, we are minutes away from passing the GENIUS Act, Senator Bill Hagerty's legislation that will be a first step toward modernizing the American payment system and integrating digital assets into the U.S. economy in a responsible way. I want to congratulate my friend Senator Hagerty for this achievement and thank him for his incredible leadership on this bill. He has been a true ally of the digital asset industry, and I am so proud to have worked with him on his GENIUS Act over the past few months. Since 2017, Wyoming has been on the forefront of digital asset policy, long before it was popular or politically expedient. In Wyoming, we recognized early on what the rest of the country is beginning to understand: that digital assets are a force for good and that you can have both responsible innovation and consumer protection side by side. The GENIUS Act protects the dual banking system and gives stablecoin issuers a real choice between State and Federal charters, preserving the innovative spirit that has also made States like Wyoming leaders in this space while also ensuring we have robust oversight when necessary. This legislation is also about economic security and opportunity. It protects the U.S. dollar's role as the world's reserve currency by ensuring that dollar-backed stablecoins remain strong and reliable.
On the recordJune 17, 2025
Source
govinfo.govEditor's note · Context
Discussing the passage of the GENIUS Act to modernize the American payment system and support digital assets.
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