Golden Finance reported that U.S. Treasury Secretary Scott Bessent stated that the GENIUS Act is a milestone in the U.S. financial sector, further solidifying America's position as a global cryptocurrency hub. He compared the bill to President Lincoln's National Currency Act of 1863, saying the former establishes a federal regulatory framework for stablecoins in the digital age.
Bessent also stated that the final rule issued by the Office of the Comptroller of the Currency (OCC) will help implement the bill, providing a clear and pragmatic regulatory framework to foster private-sector innovation, market competition, and the United States' leadership in the digital asset space.