Luján Statement on Procedural Vote to Advance the GENIUS Act

Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.) issued the following statement regarding the failed procedural vote to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act:

“Stablecoins are positioned to play a key and innovative role in our financial system. As digital assets continue to evolve and expand, Congress must work in a bipartisan fashion to establish a responsible regulatory framework – one that protects consumers, fosters innovation, and safeguards national security and public safety.

“Bipartisan negotiations have made meaningful progress, but work remains. While I remain committed to strengthening the GENIUS Act, I cannot support this bill moving forward without full legislative text and time to fully review it. I look forward to continuing bipartisan efforts to advance legislation that protects consumers and provides clear rules of the road for digital asset innovators.”

Senator Luján was part of a group of Senate Democrats who sought improvements to the GENIUS Act prior to the vote.

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