TL;DR
- Ripple CEO Brad Garlinghouse applauds the passing of the GENIUS Act, describing it as a pivotal advancement for U.S. crypto oversight.
- Ripple’s top legal officer sees the stablecoin measure as a clear framework for digital finance.
- Other major industry voices, like TRON’s Justin Sun and Coinbase’s Paul Grewal, praise the Act for boosting America’s position in global crypto leadership.
The United States approved the GENIUS Act, marking the first major national regulatory step for digital currencies in more than a decade. The new law focuses on stablecoins, demanding that they be fully backed by reliable assets like the U.S. dollar. Supporters believe this will strengthen consumer trust and modernize the country’s approach to financial technology.
Ripple’s CEO Brad Garlinghouse shared his excitement on social media, calling the GENIUS Act a clear signal that the U.S. is serious about becoming a leader in digital finance. He highlighted that the last significant financial regulation was passed fifteen years ago, and this new step provides an overdue update for an industry that has rapidly evolved.
Major Industry Figures Celebrate Regulatory Clarity
Stuart Alderoty, Ripple’s Chief Legal Officer, also welcomed the legislation, noting it finally delivers straightforward guidelines for stablecoins and other digital assets. He believes this will give both innovators and everyday Americans confidence to expand into digital finance with fewer legal uncertainties.
Justin Sun, founder of TRON, echoed the sentiment by describing the GENIUS Act as a practical guide for responsible development in the crypto field. He emphasized that properly backed stablecoins are essential for balancing innovation with consumer safety.
Stablecoin Rules Seen As Path To Dollar Strength
Coinbase’s Chief Legal Officer, Paul Grewal, added that the stablecoin provisions could help preserve the U.S. dollar’s influence worldwide. With billions already flowing through dollar-backed stablecoins, he argued that clear rules will only increase their reach and safeguard the country’s economic interests in a digital era.
President Trump, once critical of cryptocurrencies, has shifted his stance, promising to make the U.S. the global hub for digital assets. As the GENIUS Act moves to his desk for signature, industry insiders expect it will open doors for new products and services, strengthen dollar-backed tokens, and send a message that the country intends to lead rather than lag in financial innovation.
Not everyone is convinced, though. Some critics warn that allowing tech companies to issue stablecoins could add risk to the financial system if oversight falls short. Despite these concerns, the bill’s supporters remain confident that sensible guardrails will allow the U.S. to reap the benefits of blockchain progress without sacrificing safety.
