06/17/2025 | Press release | Distributed by Public on 06/17/2025 17:15
"We appreciate the Senate's efforts to create a rigorous regulatory framework around stablecoin, a goal the banking industry supports. We also appreciate the key improvements Chairman Scott, Sen. Hagerty and the legislation's bipartisan co-sponsors have made to the GENIUS Act in recent weeks, including many changes advocated by ABA. We will continue to work with lawmakers to pursue a final stablecoin bill that embraces innovation without undermining our nation's resilient and trusted financial system and the critical role banks play in the economy."
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About the American Bankers Association
The American Bankers Association is the voice of the nation's $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans.
Press Contact
Sarah Grano
(202) 663-5470
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