In this week’s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation.
In a 66–32 procedural vote on May 19, the US Senate advanced the GENIUS Act, a landmark bill aimed at establishing a comprehensive regulatory framework for stablecoins. Meanwhile, across the Capitol, Representative Tom Emmer reintroduced the Blockchain Regulatory Certainty Act, backed by bipartisan support.
Breaking down GENIUS
The GENIUS Act — short for “Guiding and Establishing National Innovation for U.S. Stablecoins Act” — seeks to answer foundational questions around stablecoin issuance and oversight.
“It defines this idea of a payment stablecoin,” explained Rashan Colbert, director of US policy at the Crypto Council for Innovation, in this week’s interview. Colbert emphasized that the bill doesn’t stop at definitions.
“It outlines in a robust way just who’s allowed to do this and what they need to look like.”
By this, he’s referring to guidelines on who can be permitted issuers like bank subsidiaries, credit unions and approved non-bank entities.
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This bipartisan momentum seen backing the GENIUS Act is both exciting and significant.
“There has been latent support within Congress, including within the Democratic caucus,” Colbert said. “They just haven’t had the opportunity to take meaningful votes.”
Blockchain dev protection
On the House side, the Blockchain Regulatory Certainty Act, co-sponsored by Representatives Emmer and Ritchie Torres, aims to give legal clarity to developers and service providers who don’t custody customer funds.
“It clarifies that they are not money transmitters,” said Colbert. “That’s the clarity these builders and entrepreneurs need to continue operating successfully.”
With crypto adoption on the rise — particularly among minority communities — Colbert said the pressure is on. “Something like one in five Americans hold crypto. That number is even larger in the Black, Latino and Asian-American communities,” he noted.
Looking ahead, the push toward broader market structure reform will be more complex. Colbert’s advice? Get involved. “It really is, at the end of the day, the people making their voices heard,” he said. “Crypto is a big deal — and Capitol Hill is finally starting to listen.”
Listen to the full episode of Byte-Sized Insight for the complete interview on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!
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