Brian Armstrong Calls on US Senate to Review GENIUS Act and Promote Bipartisan Cooperation to Build Comprehensive Regulations for Digital Asset Market.
In the latest effort to promote legal clarity for the cryptocurrency industry in the US, Coinbase CEO Brian Armstrong spoke out, calling on legislators to accelerate the passage of digital asset bills before the Congressional recess in August.
Speaking on the X platform on Tuesday, Armstrong emphasized the importance of the Senate reviewing the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoin 2025), a document expected to clarify the legal environment for stablecoins and digital asset markets.
"Congress has a real opportunity this week to advance stablecoin and market structure legislation," Armstrong wrote on X. He also stressed the need to obtain 60 votes in the Senate to bring the bill to the official discussion stage.
Bipartisan Legislative Initiative
Not only focusing on Senate activities, Armstrong also expressed support for developments in the House of Representatives, particularly the continued promotion of the Financial Innovation and Technology for the 21st Century Act (FIT21). This bill aims to clarify the regulatory roles of the SEC and CFTC in the digital asset field, addressing one of the most controversial issues in the current crypto ecosystem.
Notably, the GENIUS Act was approved by the Senate Committee on Banking, Housing, and Urban Affairs in March but is still awaiting review in the full Senate session. The bill focuses on establishing a federal oversight framework for stablecoin-issuing organizations, regulating consumer protection measures, and shaping how digital asset markets interact with traditional financial institutions.
Armstrong's call reflects the increasing pressure from the crypto industry on legislators in a context of ongoing legal enforcement actions and continued legal uncertainty. While some policymakers remain cautious about regulatory adjustments, supporters argue that these bills will provide the necessary legal structure and official recognition for the entire industry, thereby promoting innovation and protecting users.
