Crypto Leaders React to GENIUS Act Signing: “Massive Win”

The GENIUS Act, officially signed into law by President Donald Trump on July 18, has triggered a wave of reactions across the crypto community. The landmark legislation, designed to regulate stablecoins, was largely welcomed by industry leaders who praised its potential to bring regulatory clarity and legitimacy to the digital asset space.

However, not everyone is cheering. While the overall sentiment is positive, some concerns linger about consumer protection, favoritism toward large firms, and the risks of mainstream adoption.

Industry Welcomes Clarity and Growth

Many of crypto’s most influential voices celebrated the GENIUS Act as a long-awaited milestone.

• David Sacks, Trump’s advisor on crypto and AI, called it a “big win” that brings “regulatory clarity” while enhancing “consumer protection” and maintaining U.S. dollar dominance in digital finance.
• Brian Armstrong, CEO of Coinbase, emphasized that the act offers a clear legal framework for stablecoins, which could streamline payments and reduce transaction costs.
• Jeremy Chervinsky, Policy Director at Circle, said the law makes it easier for traditional finance (TradFi) to participate in crypto “without regulatory fears,” a comment echoed by Kyle Samani, who labeled it a “massive unlock for crypto legitimacy worldwide.”

Boost for Innovation and US Tech Leadership

The law was also hailed as a major catalyst for U.S. innovation.

• Solana’s team highlighted the act’s importance in keeping innovation on American soil, quoting Senator Bill Hagerty’s support.
• BlaqOppz, a prominent DeFi commentator, noted the act “changes everything for stablecoins,” particularly through banking partnerships and DeFi infrastructure expansion.

Concerns About Fairness and Security

Despite the enthusiasm, some industry watchers raised concerns:

• Critics outside the core crypto personality circle warn the act could favor established players, leaving smaller or newer projects at a disadvantage.
• Others expressed fears that stablecoins could remain a conduit for money laundering, citing ongoing scrutiny of major issuers like Tether.
• The conflict-of-interest angle surrounding Trump’s own crypto ventures also raised eyebrows among regulators and media analysts.

Project-Specific Reactions

Certain blockchain projects saw immediate implications:

• Phillip Pon of Cardano pointed out that Cardano’s Anzens stablecoin could now benefit from a clear regulatory pathway.
• Projects working closely with banks or U.S. regulators are likely to gain the most traction in the short term.