Both the GENIUS Act and STABLE Act are improvements on prior efforts, but further improvement is needed to create a regulatory framework that allows consumers the opportunity to take advantage of innovation and allows market forces to determine the future of stablecoins. 

Lawmakers designing stablecoin legislation must ensure that anti-money laundering measures don’t open the door to unfettered financial surveillance of stablecoin users.

Members of Congress should recognize that it makes little sense to double down on the overly paternalistic and prescriptive federal regime that’s already in place.

The cryptocurrency industry stands at a critical juncture as lawmakers grapple with creating regulatory frameworks for digital assets.