WASHINGTON, D.C. — Stand With Crypto, America’s leading crypto advocacy organization,  today applauded the U.S. House of Representatives for passing the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This bill – which now moves to President Trump’s desk for signature – will create a regulatory framework for stablecoins, protecting consumers, supporting greater crypto innovation, and enabling broader participation in the blockchain economy.

Following the House vote, Mason Lynaugh, Stand with Crypto community director, released the below statement:

“Stand With Crypto applauds the House’s leadership to finalize passage of the GENIUS Act. This bill ensures stablecoins – a critical component of America’s digital economy – are safe, fully backed, and transparent while fostering competition and innovation in the marketplace. Thanks to an overwhelming majority of lawmakers in both chambers, the GENIUS Act will now empower the U.S. to unleash a new era of innovation and economic growth. We urge President Trump to sign this bill into law so that it can help normalize stablecoins and crypto for more Americans.” 

Today’s vote continues building momentum for pro-crypto policy, which is slated to continue later this week when the House will also consider and vote on the CLARITY Act – which creates common sense “rules of the road” for cryptocurrency. If the bill passes the House, it will be sent to the Senate for consideration. 

Crypto developers, users, and advocates need “clear rules of the road” that provide regulatory clarity and further innovation. A lack of a regulatory framework is limiting innovation and hindering the U.S. crypto industry’s potential: The U.S. share of global blockchain developers has decreased by approximately 14% since 2018, dropping to 26% in 2023. By passing the GENIUS Act, Congress will help solidify America’s leadership in blockchain technology and the global digital economy. 

Since its introduction, Stand With Crypto has harnessed its vast network of millions of grassroots advocates to urge lawmakers to support the GENIUS Act. Most recently, Stand With Crypto scored the House’s final vote on the bill, and previously scored cloture and final votes in the Senate – incorporating results into its politician scorecards to make clear where elected officials stand on crypto policy priorities.

Over the past two years, Stand With Crypto has built a grassroots movement to mobilize and harness the voice of America’s 52 million crypto owners into a powerful and unified voting bloc, championing clear, common-sense regulations for the crypto industry and unlocking crypto’s innovation potential while fostering greater economic opportunity and freedom.