Guiding and Establishing National Innovation for U.S. Stablecoins Act

Floor Speech

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Mr. MEUSER. Mr. Speaker, I rise today in strong support of S. 1582, the GENIUS Act. I thank the chairman of our full Financial Services Committee, Chairman Hill, for his leadership; Chairman Steil for his great work; Whip Emmer, and so many in our committee and our colleagues in the Senate for their work on this legislation.

I also recognize President Trump's administration, crypto czar David Sacks, and SEC Chair Paul Atkins for their efforts to reverse the Biden-era irrational opposition and misguided regulations that we lived with for 4 years toward innovation and now we are setting America back on a progrowth America First course.

Mr. Speaker, the Senate's legislation built on 2 years of groundwork by the House, crafting a framework for stablecoins that protects consumers, the dollar, and unleashes private-sector innovation. This bill achieves three goals. It supports the dollar's role as the world's reserve currency. It provides a private-sector alternative to a government-run digital dollar which is very important, and it modernizes payments to reduce costs and expand access. This is smart, forward-looking policy.

Mr. Speaker, I urge my colleagues to support it.

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