Coinbase Calls on Treasury to Uphold GENIUS Act Vision for U.S. Stablecoin Leadership Brenda Mary | usagoldmines.com

TLDR:

• Coinbase urges Treasury to preserve the GENIUS Act’s goal of U.S. leadership in crypto and stablecoins.
• The exchange supports balanced regulation that promotes innovation while maintaining consumer and financial safeguards.
• GENIUS Act implementation will define how U.S.-issued stablecoins compete with global alternatives.
• Treasury’s rulemaking process could shape the next phase of digital payment innovation in the U.S.

Coinbase has urged the U.S. Treasury to maintain the original spirit of the GENIUS Act as it drafts implementation rules. The exchange said the legislation provides a roadmap for the United States to lead the world in crypto and stablecoin innovation. 

According to a statement by Chief Policy Officer Faryar Shirzad, the firm submitted its response to the Treasury’s advance notice of proposed rulemaking this week. Coinbase described GENIUS as a “landmark” law designed to give U.S.-issued stablecoins global reach and payment versatility. 

The company stressed that proper execution is crucial for these assets to compete globally and strengthen U.S. financial infrastructure.

Coinbase Highlights Innovation and Compliance Goals

In its response letter, Coinbase said it supports the Treasury’s role in balancing innovation with regulatory oversight. The company emphasized that GENIUS offers clear guidelines to foster responsible growth while protecting consumers and maintaining financial stability. 

Coinbase added that effective implementation would encourage private-sector innovation without compromising safeguards against illicit finance. It framed the law as a chance to position the U.S. as the top jurisdiction for payment stablecoins and digital settlement systems.

The exchange underscored its commitment to regulatory cooperation, noting its long-standing history of compliance and transparency. It also called for policies that allow U.S.-issued stablecoins to compete with foreign counterparts already gaining traction in cross-border settlements. 

Coinbase believes a strong domestic stablecoin framework could reinforce the dollar’s role in the evolving global financial system.

U.S. Policy Momentum on Stablecoins Gains Pace

The GENIUS Act, formally titled the Guiding and Establishing National Innovation for U.S. Stablecoins Act, was passed earlier this year. It outlines standards for stablecoin issuance, reserves, and risk management to encourage safe innovation in digital payments. 

Treasury Secretary Scott Bessent and his team have been leading the rulemaking process, inviting public comments from industry participants. Coinbase’s letter joins responses from other financial institutions that view stablecoins as critical infrastructure for digital finance.

As U.S. regulators move closer to releasing final rules, industry leaders are pressing for clarity and consistency in how GENIUS Act will be enforced. Coinbase stated that the Treasury’s interpretation will determine whether U.S.-backed stablecoins can achieve mainstream adoption or lag behind international alternatives. 

The company concluded its submission by reaffirming its intent to work closely with policymakers to build a stablecoin framework that supports both innovation and stability.

The post Coinbase Calls on Treasury to Uphold GENIUS Act Vision for U.S. Stablecoin Leadership appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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