TLDR

The US Senate Banking Committee has passed the GENIUS Act to regulate stablecoins.
Ripple CEO Brad Garlinghouse called the bill a major milestone for the crypto industry.
Coinbase praised the support of 68 senators and called the bill a step toward clear regulations.
Gemini co-founder Tyler Winklevoss credited Senator Hagerty for leading digital asset discussions.
The GENIUS Act is expected to drive stablecoin adoption and support innovation in the US.
Crypto leaders believe this bill can help the US lead in the global digital currency space.

The US Senate Banking Committee has passed the GENIUS Act, advancing stablecoin regulation in the United States. Key crypto firms, including Ripple, Coinbase, and Gemini, have responded with support and optimism. This move signals a turning point for the digital asset industry, which is seeking clear and consistent regulatory standards.

Ripple Applauds Senate’s Milestone on Stablecoin Clarity

Ripple CEO Brad Garlinghouse acknowledged the Senate’s progress and emphasized the long-awaited breakthrough in crypto regulation. He recognized the GENIUS Act as a significant step following years of unclear policies. According to Garlinghouse, this effort marks a departure from prior inaction on crypto laws.

For YEARS, crypto companies have been calling on Congress to pass crypto legislation and set rules of the road. This is the first major financial bill since Dodd-Frank — the first crypto bill to pass in the Senate, which now moves to the House, a truly historic moment.

Thank… https://t.co/Urt2wc9fG6

— Brad Garlinghouse (@bgarlinghouse) June 17, 2025

He credited the success to joint efforts by industry leaders and active collaboration with lawmakers over time. Garlinghouse also thanked Senators Tim Scott, Bill Hagerty, and Kirsten Gillibrand for advancing the stablecoin framework. He stated the passage addresses a pressing need for legal guidance in blockchain payments.

Ripple highlighted the importance of stablecoin regulation to ensure the legitimacy and scalability of blockchain-powered financial services. The company stressed the role of federal oversight in driving innovation while protecting consumers. It also called for continued bipartisan action to finalize the regulatory roadmap.

Coinbase Sees GENIUS Act as Milestone

Coinbase welcomed the GENIUS Act’s passage and praised all 68 senators who supported the legislation. Chief Legal Officer Paul Grewal noted that the Senate’s decision signals strong institutional recognition of digital finance. He emphasized that regulatory action aligns with America’s strategic interest in the crypto sector.

The firm pointed out that legal clarity is crucial to unlocking stablecoin adoption across financial institutions and tech platforms. Coinbase expressed hope that the GENIUS Act will become a model for digital asset governance. The company highlighted stablecoins as essential tools for modern, secure financial infrastructure.

Coinbase has maintained its position that clear rules support growth and user protection simultaneously. Grewal emphasized that long-term policy decisions will shape the US role in global crypto innovation. The company has called on the House of Representatives to act swiftly on the bill.

Gemini Applauds Legislative Push for Crypto Leadership

Gemini co-founder Tyler Winklevoss expressed strong support for the Senate’s progress on stablecoin legislation. He credited Senator Bill Hagerty for championing digital asset discussions within the Senate chamber. Winklevoss described the GENIUS Act as a catalyst for national crypto leadership.

He also acknowledged the efforts of crypto czar David Sacks in fulfilling regulatory commitments. Gemini believes stablecoin laws will position the US at the forefront of digital currency adoption. The exchange has pushed for stablecoin frameworks that protect users while promoting innovation.

Gemini also views the GENIUS Act as essential for building institutional trust in crypto assets. The firm stated that consistent regulation can help integrate stablecoins into mainstream commerce. Gemini continues to engage with lawmakers to support practical, enforceable policies.

The post Ripple, Coinbase, Gemini Hail Senate’s Passage of GENIUS Act Bill appeared first on CoinCentral.

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Filed under: News - @ June 18, 2025 2:26 pm