GENIUS Act Gains Support from a16z’s Chris Dixon and Coinbase’s Brian Armstrong
By: cryptosheadlines|2025/05/07 06:30:02
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Major industry figures, such as Chris Dixon and Brian Armstrong, have publicly backed the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.This endorsement comes ahead of a key Senate vote scheduled for this Thursday.Industry SupportIntroduced in February 2025 by Senator Bill Hagerty, the GENIUS Act is co-sponsored by Senate Banking Committee Chairman Tim Scott, alongside Senators Kirsten Gillibrand and Cynthia Lummis. The bill’s main goal is to establish a federal licensing and supervisory framework for payment stablecoins and the companies that issue them. a16z’s Chris Dixon praised the proposal, saying:“The GENIUS Act will protect consumers and increase transparency–a significant improvement on the status quo.”While he admitted the bill isn’t perfect and will need changes, he stressed how important it is for the Senate to follow through on its bipartisan work.Dixon also noted that moving quickly on this legislation and a market structure bill would finally give both consumers and businesses the clear rules they’ve been waiting for. According to him, this would help the U.S. stay ahead in blockchain leadership.Similarly, Coinbase CEO Brian Armstrong described the week’s legislative agenda as a major opportunity for Congress to advance both stablecoin and broader market structure legislation.“We strongly support the Senate starting debate on the GENIUS Act—and we need 60 votes to get there,” he said.He also welcomed House efforts to build on the momentum created by the Financial Innovation and Technology for the 21st Century (FIT21) Act. According to him, urgent, coordinated action from both is important if comprehensive legislation is to be passed into law before August.The GENIUS Act outlines who is eligible to issue payment stablecoins and sets clear criteria for becoming a federally permitted issuer. The proposed rules encourage issuers to obtain proper licensing while also establishing rules for how foreign and unlicensed entities can operate within the U.S. market. By doing so, it plans to create a more consistent and regulated environment for stablecoins nationwide.Legislative EffortsThe initiative is part of a broader movement toward comprehensive crypto regulation. On April 2, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 was passed by the House Financial Services Committee.According to Bryan Steil, Chair of the Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, it gives the Office of the Comptroller of the Currency (OCC) the authority to approve and supervise federally qualified nonbank stablecoin issuers.The legislation also aims to protect consumers, strengthen the U.S. dollar’s global role, and support the growth of Web3 businesses in the United States.SPECIAL OFFER (Sponsored)Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!Source link
You may also like

Trading Never Sleeps: On-Chain, Crude Oil, and Leverage
The prices in this window are determined by emotions, amplified by leverage, driven by the narrative of war—rather than by the supply and demand of crude oil.

On-chain Yield Panorama: The Evolution from Interest-bearing Stablecoins to Crypto Credit Products
In a bear market, investors tend to prefer more stable returns and lower underlying risks, which has driven the growth of interest-bearing stablecoins.

RootData announced the integration with OpenClaw, and these gameplay features have gone viral
In the era of AI Agents, the value of data lies not in "ownership," but in "connection."

Key Market Intelligence on March 9th, how much did you miss out on?
1. On-chain Funds: $221M flowed into Hyperliquid last week; $186.7M flowed out of Arbitrum
2. Largest Price Swings: $DENT, $UAI
3. Top News: Middle East Conflict Sparks Stagflation Trading, Global Stock Markets Shed Around $6 Trillion

a16z: After AI Superpowers, Where to Next for Humanity?
Cryptocurrency will become the cornerstone of trust in this new era.

Why Does Oil Go Up When Bitcoin Goes Down?
The Impact of Middle Eastern Oil on Bitcoin Price

Decoding 112,000 Polymarket Addresses: The Top 1% Making Money Are Doing These Five Things
Those loss-making addresses are not stupid, just lacking discipline — too many markets involved, overexposure, excessive FOMO, and hardly any post-mortem.

AAVE founder issues a warning: DeFi must never become the exit liquidity for Wall Street private credit
In order for RWA to succeed in DeFi and for DeFi to achieve meaningful scale expansion through real-world assets, the entire industry needs to thoughtfully and cautiously build opportunities that connect TradFi (traditional finance) and on-chain markets.
How To Create A Frequency So Strong It Makes Reality Obey You
The first-ever WEEX AI Hackathon has concluded, with 10 winners emerging from over 200 global teams. Beyond its $1.8 million prize pool, the event marked a milestone—proving that the future of AI trading belongs to accessible, AI-powered innovation.

The cryptocurrency industry has waited for five and a half years, and what they got is half a ticket
The hand that opens this door is not the rule, but the direction of the wind.

The trend of Ethena reveals what information about the cryptocurrency market
Through Ethena's data insights: the collective hedging and self-protection of VCs and project parties is leading the crypto market into an extreme risk-averse moment of "complete balance between bulls and bears" for the first time in history.

I've been in the crypto industry for five and a half years, and all I got was half a ticket.
The hand that opens this door is not a rule, but a wind.

Crude Oil Surges 25%, Hyperliquid Unfolds On-Chain Showdown
Hyperliquid users now need to keep an eye on the latest developments in the Iran Hormuz Strait, while a DeFi OG is using on-chain derivatives to hedge against war risk.

$20 Billion Valuation, Is Kalshi Engaging in an Arms Race with Polymarket?
US-Iran Conflict + World Cup + Eve of Elections, Predicts Market Key Data Points to Reach New All-Time Highs in 2026.

Will Not Messing with OpenClaw Lead to Obsolescence in the AI Era? | Lobster Fuss Summit
Amazon Web Services On-Site Guidance to Deploy OpenClaw, Low-Cost and User-Friendly

Anticipating the Market's New Challenge to Political Elections
The next US presidential election will depend on the prediction markets

The Shadow Business Empire of Iran's New Supreme Leader: Oil, Real Estate, and Financial Intrigue
From political and military influence to shaping the financial network, Mujataba has secretly laid the groundwork to assume the ultimate leadership position.

Next-Generation Software Built for Trillion-Agent Scale
When the Agent becomes a key user of the software, software design, infrastructure, and business model will all change accordingly
Trading Never Sleeps: On-Chain, Crude Oil, and Leverage
The prices in this window are determined by emotions, amplified by leverage, driven by the narrative of war—rather than by the supply and demand of crude oil.
On-chain Yield Panorama: The Evolution from Interest-bearing Stablecoins to Crypto Credit Products
In a bear market, investors tend to prefer more stable returns and lower underlying risks, which has driven the growth of interest-bearing stablecoins.
RootData announced the integration with OpenClaw, and these gameplay features have gone viral
In the era of AI Agents, the value of data lies not in "ownership," but in "connection."
Key Market Intelligence on March 9th, how much did you miss out on?
1. On-chain Funds: $221M flowed into Hyperliquid last week; $186.7M flowed out of Arbitrum
2. Largest Price Swings: $DENT, $UAI
3. Top News: Middle East Conflict Sparks Stagflation Trading, Global Stock Markets Shed Around $6 Trillion
a16z: After AI Superpowers, Where to Next for Humanity?
Cryptocurrency will become the cornerstone of trust in this new era.
Why Does Oil Go Up When Bitcoin Goes Down?
The Impact of Middle Eastern Oil on Bitcoin Price