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Julia Smith
Author
Julia Smith
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United States Securities and Exchange Commission (SEC) Chair Paul Atkins praised the GENIUS Act during a symposium on Tuesday, calling its passage a “seminal” moment.
Paul Atkins Celebrates ‘Seminal’ Moment in Congress
Speaking at the SALT Wyoming Blockchain Symposium 2025, Atkins commended members of Congress for passing the GENIUS Act last month.
“As we go on, there are a lot of questions to be answered, so I salute the folks in Congress who have passed the GENIUS Act,” Atkins said, labelling it as a “seminal step for the U.S. Congress and government” as a whole.
Despite having “a lot of spring cleaning to do at the SEC,” Atkins praised the key steps taken toward crypto clarity in recent months.
“You’ve needed it so badly, you’ve paid enough in legal fees and whatnot,” the federal regulator said. “Not just to fend off the government but to try to figure out the crazy quilt of different opinions, court opinions, and statutes…
“I think there’s a lot of great ideas we’re setting out at the SEC to implement them as we can,” he added.
U.S. Treasury Secretary Calls GENIUS Act ‘Essential’
Atkins’ comments come just one day after the U.S. Treasury called for the public comment required by the GENIUS Act on how the government could help prevent “illicit-finance risks” tied to digital assets.
Following news of the request for comment, U.S. Treasury Secretary Scott Bessent praised implementing the GENIUS Act as “essential” to “securing American leadership in digital assets.”
“Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for U.S. Treasuries, which back stablecoins,” Bessent said.
U.S. President Donald Trump signed the GENIUS Act into law last month in what crypto proponents viewed as a key marker for developing a crypto-friendly regulatory framework stateside.
With more crypto bills heading down the congressional pipeline, it is still unclear just how much clarity the stablecoin law can bring on its own.
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