[Congressional Record Volume 171, Number 104 (Tuesday, June 17, 2025)]
[Senate]
[Page S3434]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               GENIUS ACT

  Ms. ALSOBROOKS. Mr. President, I supported passage of S. 1582, the 
GENIUS Act, because it creates new Federal regulations and consumer 
protections for payment stablecoins. Specifically, the bill was amended 
to explicitly and clearly preserve State consumer protection laws in 
the negotiated rule of construction in section 7(f)(4). This was always 
the intent of the bill, as evidenced by the public discussion between 
Senators of both parties during the March 13, 2025, markup in the 
Committee on Banking, Housing, and Urban Affairs. The amended, final 
version of the bill includes this negotiated rule of construction to 
prevent State consumer protection laws from being preempted, as 
intended by the bill's sponsors and supporters.

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