At the White House today, the first major piece of U.S. crypto legislation was signed into law: the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act). It provides clear rules for stablecoins and recently passed both the Senate and House of Representatives with broad bipartisan support. This is a historic moment — not just for crypto, but for the world at large. That’s because stablecoins give us something we’ve never really had before: open money infrastructure.
Stablecoins are a better form of money: faster, cheaper, and more global. They cut fees and eliminate intermediaries. They are auditable and programmable. They allow developers to build new kinds of apps that weren’t possible before: low-to-no cost remittances, programmatic micropayments, AI-native transactions, transparent and disintermediated global commerce, and more.
Stablecoins give the world access to the dollar, they spread financial freedom, and they ensure that the next generation of financial infrastructure is built on U.S. standards.
For too long, innovators in crypto have operated under legal uncertainty. That uncertainty has stifled progress, driven builders offshore, and created a fragmented internet. The GENIUS Act reverses this: It creates clarity for stablecoins and sets us on a path toward broader crypto market structure reforms.
This is how the internet moves forward: through clear rule-making. With the GENIUS Act, stablecoins have clear rules, paving the way for better payments, financial products, and an overhaul of the global financial system.
Next, we need the same for the rest of the crypto market. The Senate can do this by passing the CLARITY Act, which provides clear rules of the road for the broader crypto industry, opening a path for innovators while also protecting consumers from scams and bad actors.
We believe that the U.S. can lead the next era of the internet — the read-write-own era — by enabling open, user-owned protocols instead of the closed, corporate platforms that defined the last one. This legislation lays the foundation for that future. It’s the beginning of a new chapter.
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