The United States Securities and Exchange Commission (SEC) Chair, Paul Atkins, recently spoke at the SALT Wyoming Blockchain Symposium 2025 where he praised the passage of the GENIUS Act by Congress. He described the act as a “seminal” moment and commended lawmakers for taking this important step towards crypto clarity.
Atkins acknowledged the challenges faced by the SEC in navigating the complex landscape of digital assets and highlighted the need for regulatory clarity. He emphasized the importance of addressing the legal uncertainties surrounding cryptocurrencies and applauded Congress for passing the GENIUS Act.
The GENIUS Act, signed into law by President Donald Trump last month, aims to provide a regulatory framework for stablecoins and other digital assets. It requires public comment on how the government can mitigate illicit finance risks associated with these technologies.
U.S. Treasury Secretary Scott Bessent also lauded the implementation of the GENIUS Act, calling it “essential” for securing American leadership in the digital asset space. He highlighted the potential of stablecoins to expand access to the dollar globally and drive demand for U.S. Treasuries.
With more crypto-related bills making their way through Congress, the GENIUS Act is seen as a significant step towards creating a more crypto-friendly regulatory environment in the United States. However, the full extent of its impact on the industry remains to be seen.
Overall, the passage of the GENIUS Act represents a positive development for the crypto sector, signaling a growing recognition of the importance of regulatory clarity and investor protection in the digital asset space. Atkins’ comments underscore the progress being made towards establishing a more robust regulatory framework for cryptocurrencies in the U.S.