Bankless

The GENIUS Act Passes the Senate: Lead Sen. Bill Hagerty Discusses The US Stablecoin Bill

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Jun 18, 2025
Guest
Sen. Bill Hagerty
Senator Bill Hagerty of Tennessee, a key architect behind the GENIUS Act, discusses the recent bipartisan passage of this groundbreaking legislation aimed at stabilizing the U.S. stablecoin market. He shares insights on the legislative shift from skepticism to support for cryptocurrency. The bill promises to promote innovation while ensuring user protection, with economic benefits highlighted throughout. Hagerty also addresses concerns regarding Central Bank Digital Currencies and emphasizes the importance of regulatory clarity to maintain America’s leadership in financial technology.
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ADVICE

House Should Pass Genius Act Cleanly

  • Urge the House of Representatives to approve the Genius Act without amendments.
  • Delays or changes could risk losing bipartisan support and hinder progress.
INSIGHT

Stablecoins Boost Dollar Dominance

  • Stablecoins could grow to a $3.7 trillion market by 2030, boosting demand for U.S. treasuries.
  • This growth may lower government borrowing costs and extend U.S. dollar dominance globally.
INSIGHT

Stablecoins vs CBDCs Control

  • Central Bank Digital Currencies (CBDCs) provide governments control and surveillance on transactions.
  • Stablecoins offer freedom by avoiding centralized choke points and protecting user liberty.
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