Summary
- U.S. virtual asset lobbyists called for the passage of the Genius Act in the Senate.
- Blockchain association leaders highlighted the importance of a comprehensive approach to stablecoin supervision.
- If the Genius Act passes this week, it is expected to be the first case of a major virtual asset bill passing the Senate.
Virtual asset (cryptocurrency) lobbyists have taken action to push for the passage of the Genius Act, the most prominent stablecoin (virtual asset linked to the value of fiat currency) bill currently in the spotlight within the industry.
On the 2nd (local time), CoinDesk, a virtual asset-focused media outlet, reported that with the Genius Act reaching the final plenary session of the U.S. Senate, virtual asset lobbyists called for legislative action from the political establishment.
The previous day, blockchain association leaders—including the Virtual Asset Innovation Council, Decentralized Finance Education Fund, and the Digital Chamber of Commerce—issued a joint statement urging lawmakers to commit to the bill's core goal of offering a targeted and comprehensive approach to stablecoin oversight, as the amendment process continues.
Earlier, Senate Majority Leader John Thune announced that he would keep amendments to the Genius Act open. In this process, some senators are reportedly causing friction in the legislative process by forcing the addition of a credit card market competition law unrelated to stablecoins.
Meanwhile, if the Genius Act passes this week, it is expected to become the first major virtual asset bill to clear the Senate.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
