Momentum is accelerating in Washington as lawmakers edge closer to passing landmark crypto and stablecoin legislation that could reshape U.S. digital asset regulation by August.
Coinbase Pushes Congress to Finalize Stablecoin and Crypto Rules Before August
Coinbase CEO Brian Armstrong called on U.S. lawmakers Tuesday to move forward with crucial cryptocurrency legislation, urging bipartisan cooperation to pass comprehensive rules before the August recess. Posting on social media platform X, Armstrong expressed strong support for the Senate’s consideration of the GENIUS Act, emphasizing its potential to clarify the regulatory landscape for stablecoins and digital asset markets.
The Coinbase chief executive stated:
Congress has a real opportunity this week to advance stablecoin and market structure legislation. We strongly support the Senate starting debate on the GENIUS Act — and we need 60 votes to get there.
His remarks spotlight ongoing legislative efforts that could dramatically reshape how crypto assets are regulated across the United States. While the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS Act of 2025) focuses on federal oversight of stablecoin issuers and custodians, it also outlines consumer protection measures and defines how digital asset markets interact with existing financial institutions. The Senate Committee on Banking, Housing, and Urban Affairs voted to advance the GENIUS Act in March.
In addition to pushing the Senate, Armstrong praised the U.S. House of Representatives’ recent progress: “We also welcome House efforts to build on FIT21’s momentum.” The Financial Innovation and Technology for the 21st Century Act (FIT21), which has advanced through committee stages, seeks to clarify the roles of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing digital assets.
Armstrong stressed the urgency of collaboration between both chambers:
Both chambers need to act now if we hope to pass comprehensive legislation into law before August.
His statement highlights rising industry pressure on lawmakers to finalize a clear regulatory framework amid ongoing enforcement actions and uncertainty surrounding crypto regulation. While some policy critics remain wary of loosening restrictions, advocates argue these bills provide overdue structure and legitimacy to the sector.
Source: Bitcoin
