Landmark GENIUS Stablecoin Bill Passes Senate! What's Next? | Bill Co-author Senator Bill Hagerty

📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24
https://bankless.cc/spotify-premium

Today, we discuss the recently passed Genius Bill with Senator Bill Hagerty, a key architect behind the legislation aimed at stabilizing the U.S. stablecoin market. Following a significant bipartisan Senate vote of 68-30, Sen. Hagerty shares insights on the evolving congressional perception of cryptocurrency, moving from skepticism to support. The bill seeks to foster a regulatory environment that encourages innovation while protecting users and maintaining America’s leadership in financial technology. The episode also highlights the potential economic benefits of a strong stablecoin framework and addresses concerns regarding Central Bank Digital Currencies (CBDCs).

BANKLESS SPONSOR TOOLS:

🪙FRAX | SELF SUFFICIENT DeFi
https://bankless.cc/Frax

🦄UNISWAP | SWAP ON UNICHAIN
https://bankless.cc/unichain

🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle

🌐CELO | BUILD TOGETHER AND PROSPER
https://bankless.cc/Celo

🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance

TIMESTAMPS

00:00 Start
05:20 Introduction of Senator Bill Hagerty
08:00 The Genesis of the Genius Bill
12:45 Overcoming Legislative Hurdles
21:30 Bipartisan Support Explained
28:50 The Economics of Stablecoins
36:00 Geopolitical and Domestic Impacts
45:15 Addressing Detractors’ Concerns
53:40 The Difference Between Stablecoins and CBDCs
01:02:00 Future Legislative Directions
01:10:20 Call to Action for Listeners
01:20:00 Closing Remarks and Next Steps

RESOURCES

Sen. Bill Hagerty: https://x.com/SenatorHagerty

The GENIUS Act: https://www.congress.gov/bill/119th-congress/senate-bill/394/text

Sec. Bessent’s Tweet: https://x.com/SecScottBessent/status/1935027160374210573

Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠