A bipartisan group of U.S. senators is asking the Treasury Department to give clearer guidance on how state regulators can help implement the GENIUS Act, the main law for stablecoin issuers in the U.S.
Led by Senator Cynthia Lummis, the lawmakers are worried that the Treasury’s first framework does not clearly explain how states can show their rules match federal standards. Without clear steps, they say, states might be left out of supervising stablecoin issuers.
In a letter to Treasury Secretary Scott Bessent, the senators asked for written guidance on application steps, review processes, certification needs, and timelines. They said state regulators are unsure how to proceed and need clearer instructions to create compliant rules.
This issue matters because the GENIUS Act lets state regulatory systems work alongside federal oversight if they meet certain standards. But lawmakers worry that without clear procedures, states might not be able to take part or have enough flexibility.
Some of these senators have also helped shape other crypto laws now being discussed in Washington. Their push shows ongoing efforts to balance federal oversight with state innovation as the U.S. builds a full regulatory framework for digital assets.
The result could affect how stablecoin rules develop nationwide and decide what role states will have in overseeing one of the fastest-growing parts of the crypto industry.
Bipartisan senators push Treasury to uphold states’ authorities under the GENIUS Act https://t.co/IRUoXkU71E
— The Block (@TheBlockCo) June 16, 2026
Source: lummis.senate.gov
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