The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) was the first major piece of crypto legislation in the United States, signed into law last year and passed with broad bipartisan support. Since GENIUS provided a clear legal pathway for stablecoins, we’ve seen stablecoin innovation and volume accelerate in the United States. This matters even beyond the crypto and traditional finance industries, because stablecoins give us something we’ve never really had before: open money infrastructure.

GENIUS demonstrates what’s possible when effective policy and technology work together. Now it’s time to get the implementation in practice right.

The U.S. Treasury Department recently issued a Notice of…