The following statement is attributed to Blockchain Association CEO Summer Mersinger:
“We appreciate the tireless work of the Senate Banking Committee and its staff, who have engaged seriously and in good faith to put forward draft market structure legislation. We are analyzing the text, engaging with our members, and in constant communication with policymakers to get this critical legislation across the finish line.
What is threatening progress is not a lack of policymaker engagement, but the relentless pressure campaign by the Big Banks to rewrite this bill to protect their own incumbency. Their demands to eliminate stablecoin rewards are designed to choke off consumer choice and kill innovative financial products before they can compete.
The digital asset industry is at the table and negotiating in good faith. The Big Banks are not. If they succeed in blowing up this legislation with unreasonable demands, they will be left with language in the GENIUS Act – a status quo that they themselves have insisted is completely unworkable. That outcome would be self-inflicted, and it would expose exactly who is fighting for consumers and who is fighting to preserve monopoly power.”
