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ABA: The American Bankers Association
Statement
  • For Immediate Release
  • June 17, 2025

ABA Statement on Senate Passage of the GENIUS Act

“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.

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