CEO of Coinbase, Brian Armstrong, is on fire in Washington. In a clear and urgent call, he asked the US Senate to adopt the Bipartite Engineering Act – a bill which could finally provide clear rules to the world of stablecoins.
Why now? Armstrong says the clock turns. Without solid legislation, the United States may delay as cryptographic innovation accelerates worldwide. But with the genius law, there is a chance to strengthen growth, protect users and give industry the regulatory clarity it began.
So what’s really in this bill? And why do some legislators hesitate to support him? Let’s decompose it.
Armstrong calls for the action of the Senate on the law on engineering
In a recent article on X, Armstrong stressed the importance of the Act on Engineering, by declaring, “We strongly support the Senate’s starting debate on the law on genius – and we need 60 votes to get there.”
He urges the two chambers of the congress to move quickly and to adopt complete legislation of cryptography before the recess of August. Its attraction reflects a broader feeling of the industry: regulations are necessary – not to stifle growth, but to support it.
What exactly is the act of genius?
THE Genius offers a national regulatory framework for stableOne of the most critical components of the cryptographic ecosystem.
Under the bill:
- Stablecoin issuers would need a national license
- All stablecoins must be Completely sustained 1: 1 by US dollars, insured bank deposits or short -term US Treasury securities
- A Three -year transition period Would be planned for digital asset service providers to comply
The goal? Strengthen consumer confidence while providing companies with the stability they need to operate legally and confidently in the United States
Democrats raise concerns concerning the act
With the initial bipartite support, the law on engineering faces challenges because certain Senate Democrats do not maintain the bill. For what? They cited concerns about national security and the need for stronger arrangements on money laundering.
This resistance could block the momentum, despite growing calls from cryptographic industry and defenders of regulatory reform to act quickly.
“ The most important crypto Bill for years ” said Gage Salicki
Cryptographic analyst Salicki pledge taken at X and called the act engineering “The most important American cryptography bill for years.” He praised his bipartite nature and his potential to finally bring Regulatory clarity in stablecoinswhich currently operates in a largely gray area.
For an industry that awaits clear guidelines, Salicki’s words sound loud and clear: this bill could change the situation.
What is the next step? Will the genius law become the law?
As the Senate shows the interest in the law on engineering, the result will considerably influence the flow of regulation of the stablescoin in the United States. Armstrong’s advocacy highlights the desire for the cryptographic industry of clear regulatory conditions and support to stimulate customer growth and confidence.
The cryptographic community, investors and innovators look closely.
