{"id":129880,"date":"2025-05-23T14:21:36","date_gmt":"2025-05-23T14:21:36","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129880"},"modified":"2025-05-23T14:21:36","modified_gmt":"2025-05-23T14:21:36","slug":"washington-moves-on-crypto-stablecoin-and-blockchain-bills-signal-regulatory-momentum","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129880","title":{"rendered":"Washington moves on crypto: Stablecoin and blockchain bills signal regulatory momentum"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsIn this week\u2019s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation.\u00a0<br \/>\nIn a 66\u201332 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.<br \/>\nBreaking down GENIUS<br \/>\nThe GENIUS Act \u2014 short for \u201cGuiding and Establishing National Innovation for U.S. Stablecoins Act\u201d \u2014 seeks to answer foundational questions around stablecoin issuance and oversight.<br \/>\n\u201cIt defines this idea of a payment stablecoin,\u201d explained Rashan Colbert, director of US policy at the Crypto Council for Innovation, in this week\u2019s interview. Colbert emphasized that the bill doesn\u2019t stop at definitions.\u00a0<br \/>\n\u201cIt outlines in a robust way just who\u2019s allowed to do this and what they need to look like.\u201d\u00a0<br \/>\nBy this, he\u2019s referring to guidelines on who can be permitted issuers like bank subsidiaries, credit unions and approved non-bank entities.<br \/>\nRelated: Interest groups, lawmakers to protest Trump\u2019s memecoin dinner<br \/>\nThis bipartisan momentum seen backing the GENIUS Act is both exciting and significant.\u00a0<br \/>\n\u201cThere has been latent support within Congress, including within the Democratic caucus,\u201d Colbert said. \u201cThey just haven\u2019t had the opportunity to take meaningful votes.\u201d<br \/>\nBlockchain dev protection<br \/>\nOn the House side, the Blockchain Regulatory Certainty Act, co-sponsored by Representatives Emmer and Ritchie Torres, aims to give legal clarity to developers and service providers who don\u2019t custody customer funds.<br \/>\n\u201cIt clarifies that they are not money transmitters,\u201d said Colbert. \u201cThat\u2019s the clarity these builders and entrepreneurs need to continue operating successfully.\u201d<br \/>\nWith crypto adoption on the rise \u2014 particularly among minority communities \u2014 Colbert said the pressure is on. \u201cSomething like one in five Americans hold crypto. That number is even larger in the Black, Latino and Asian-American communities,\u201d he noted.<br \/>\nLooking ahead, the push toward broader market structure reform will be more complex. Colbert\u2019s advice? Get involved. \u201cIt really is, at the end of the day, the people making their voices heard,\u201d he said. \u201cCrypto is a big deal \u2014 and Capitol Hill is finally starting to listen.\u201d<br \/>\nListen to the full episode of Byte-Sized Insight for the complete interview on Cointelegraph\u2019s Podcasts page, Apple Podcasts or Spotify. And don\u2019t forget to check out Cointelegraph\u2019s full lineup of other shows!\u00a0<br \/>\nMagazine: Legal Panel: Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/washington-moves-on-crypto-stablecoin-and-blockchain-bills-signal-regulatory-momentum?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsIn this week\u2019s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation.\u00a0 In a 66\u201332 procedural vote on May&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129880"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129880"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129880\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129880"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}