In this week’s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation.
In a 66–32 procedural vote on May 19, the US Senate advanced the GENIUS Act, a landmark bill aimed at establishing a comprehensive regulatory framework for stablecoins. Meanwhile, across the Capitol, Representative Tom Emmer reintroduced the Blockchain Regulatory Certainty Act, backed by bipartisan support.
Breaking down GENIUS
The GENIUS Act — short for “Guiding and Establishing National Innovation for U.S. Stablecoins Act” — seeks to answer foundational questions around stablecoin issuance and oversight.
“It defines this idea of a payment stablecoin,” explained Rashan Colbert, director of US policy at the Crypto Council for Innovation, in this week’s interview. Colbert emphasized that the bill doesn’t stop at definitions.
“It outlines in a robust way just who’s allowed to do this and what they need to look like.”
By this, he’s referring to