US SEC Chairman Paul S. Atkins Issues “Statement on Passage of the GENIUS Act by the House of Representatives,” Regulatory Milestone for Crypto

Uncover the most recent developments within the Bitcoin area. This article dives into: “US SEC Chairman Paul S. Atkins Issues “Statement on Passage of the GENIUS Act by the House of Representatives,” Regulatory Milestone for Crypto”.

On 17 July 2025, the US Securities and Exchange Commission (US SEC) Chairman Paul S. Atkins issued an announcement congratulating the US House of Representatives on passing the US GENIUS Act, commending the collaborative efforts of the US House and US Senate, and highlighting it as a historic milestone for crypto entrepreneurs, monetary market contributors, by offering clear regulatory guidelines for cost stablecoins to encourage innovation, efficiencies, price reductions, transparency, and danger mitigation in monetary transactions.

The US GENIUS Act, formally sponsored by US Senate Banking Committee Chairman Tim Scott, US House Financial Services Committee Chairman French Hill, US Senator Cynthia Lummis, and US Senator Bill Hagerty, represents a legislative effort to determine a regulatory framework for cost stablecoins throughout the broader context of blockchain and crypto asset applied sciences. The function of the US GENIUS Act is to offer clear guidelines for innovators in cost stablecoins, aiming to foster efficiencies, price reductions, transparency, and danger mitigation in monetary transactions whereas guaranteeing strong safeguards.

In the assertion launched by US SEC Chairman Paul S. Atkins, mentioned the importance of this improvement for varied stakeholders. “I would like to congratulate the House of Representatives on passing the GENIUS Act and commend the work both the House and Senate put into this important legislation,” Atkins famous. He additional described the invoice’s progress as “a historic milestone for crypto entrepreneurs, financial market participants, and everyday Americans,” expressing gratitude to the sponsors for his or her management.

Atkins elaborated on the transformative potential of the underlying applied sciences, stating: “Blockchain and crypto asset technologies have the potential to revolutionise America’s financial infrastructure and deliver new efficiencies, cost reductions, transparency, and risk mitigation for the benefit of all Americans. Innovators experimenting with these exciting technologies deserve clear rules of the road, which the GENIUS Act provides for payment stablecoins.” Looking forward, he anticipated constructive outcomes from the laws: “Over the coming months and years, I look forward to watching the market leverage the regulatory framework provided by the GENIUS Act to go to market with payment stablecoins solutions that make transactions quicker, cheaper, and safer, all while maintaining robust risk safeguards.”

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