Coinbase CEO urges rules for US stable coins, while the Senate weighs the Genius Act

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• A Three-Year Compliance Period is Proposed for Digital Asset Firms.
• Democrat Raise Concerns About National Security and Money Lundering.
• Crypto Leaders Say the Us Risks Falling Behind Europe and Asia on Regulation.

Coinbase CEO Brian Armstrong Has Intensified Pressure on the Us Senate to Act on Crypto Regulation, Calling for A Debate on the Bipartisan Genius Act, which aims to establish a National Framework for StableCoins.

With more than $ 1 Trillion in Stablecoin Volume Settled Monthly and global Competitors Advancing Their Regulatory Regimes, Armstrong’s Urgency Comes AMID FEARSEN THE UNS May Foothold in Digital Finance.

his call underscores the growing push from crypto leaders for legislation that supports innovation while offering clear rules and consumer protections.

Genius Act Sets Uniform Standards for StableCoins

Formally Known as the lummis-gillibrand Payment stablecoin act, the genius act would mandate all stablecoins be fully backed 1: 1 us dollars, insured bank deposits, or treasury bills, a Move designed to eliminate Concern's about Solvency and Run Risk.

only firms with a national license would be pertmed to issue thesis tokens, putting an end to the current patchwork of state-by-state regulations.

a Three-Year Compliance Window Window Firms Time to Adapt, During which Digital Asset Service Providers Must Adjust their Systems to Align With New Standards.

Supporters argue this not only only users, but encourage institutional adoption by setting a clear regulatory perimeter.

Coinbase and other Platforms Dealing with dollar-peged tokens Search as usdc are expected to benefit if the act becomes law, potential unlocking braider financial applications search as instant settlement Payments.

Democrats cite aml, security gaps as concerns

Despite initial bipartisan support, The Bill is facing internal hurdles.

Senate Democrats Have Raized Objects Around National Security, Money Laundering, and Consumer Protection, Arguing the Bill’s Current Commissions May Not Go Far Enough in Curbing Illicit Finance.

This Hesitation Could Delay Progress The August Recess, Even as Republicans and many industry leader urge Immediate Action.

with a compromise, The Bill Could Stall in Committee, Leaving StableCoins in Continued Regulatory Limbo.

Armstrong Warned on X That the Longer the Us Waits, The More Likely It is to case Behind region Like the European Union, which already Passed the Mica Framework, and Hong Kong, which Plans Its StableCoin Rules This Year.

Analyst Have this regulatory Lag Could Push Innovation Offshore, Depriving the Us of Lead in Blockchain-Driven Finance.

Industry Calls the Bill a Turning Point

If Passed, the act would give stablecoin firms a green light to operate with confidence, Possibly Attracting more traditional finance players to the space.

Coinbase’s Advocacy, Including Armstrong’s Direct Appeal to Lawmakers and other lobbying EFFORTS in Washington, Indicates that Exchanges See Regulatory CertaAnty as Key to Unlocking The Next Phase Of Crypto adoption.

Still, The Bill’s Path to Passage Remains Uncertain. It Requires 60 Votes in the Senate to Move Forward, which Means Several Holdout Democrats would need to be weyed.

With time running out ahead of the August Recess, Much Depends on Whether Lawmakers can strike a balance risk with mitigation and industry growth.