Washington, D.C. (Sept. 29, 2025) – Blockchain Association today sent a letter to Congressional leaders reaffirming the strong support of the digital assets industry for the GENIUS Act – the landmark bipartisan legislation enacted earlier this year that established the first comprehensive U.S. framework for dollar-denominated stablecoins.
The letter, addressed to Senate Banking Committee Chairman Tim Scott, Ranking Member Elizabeth Warren, House Financial Services Committee Chairman French Hill, and Ranking Member Maxine Waters, underscores that GENIUS is settled law and cautions against efforts to roll back this historic, bipartisan achievement.
“GENIUS was a watershed moment – the first major digital asset legislation signed into law – and it demonstrates that innovation and consumer protection can go hand in hand,” said Summer Mersinger, CEO of Blockchain Association. “Stablecoins are not a threat to consumers or financial stability. They are an upgrade to a system that has long underserved Americans. Any attempt to weaken GENIUS would undermine U.S. leadership and drive innovation overseas at the very moment we are poised to lead.”
Blockchain Association’s letter makes clear:
- Clarity and strength: GENIUS establishes one-to-one reserves, federal supervision, and strict transparency, giving entrepreneurs the certainty to build in the United States.
- Economic benefits: Stablecoins expand credit supply through on-chain lending, deliver lower-cost transactions, and enhance competition.
- Consumer protection: Arguments advanced by the Big Banks about deposit flight or credit market risks are not supported by data and reflect an effort to preserve incumbent positions, at the expense of everyday consumers.
To further elevate awareness, Blockchain Association this week is launching an advertising campaign highlighting the importance of defending GENIUS and maintaining America’s competitive edge in digital asset innovation.
About Blockchain Association
Blockchain Association is the unified voice of the cryptocurrency industry. Our members include the sector’s leading investors, companies, and projects, working together to support a future-forward, pro-innovation national policy and regulatory framework for the crypto economy. Find us at theblockchainassociation.org. Follow us @BlockchainAssn.
