It’s not every day you see someone begging Congress to do their job, unless, of course, it’s every single day. On May 6, 2025, Brian Armstrong, CEO of Coinbase and someone who probably has his own personalized stationary for writing complaints to lawmakers, leapt onto X (formerly known as Twitter, currently known as “The Place My Uncle Gets Mad”) to urge—no, plead—for the U.S. Senate to get its act together on stablecoins before breaking for summer recess. You know your legislative agenda is a hot mess when “Before August Break” becomes a key deadline. 🏖️
The GENIUS Act (which, let’s be real, sounds like the kind of bill you pass when you’re still hurt your last acronym didn’t trend on TikTok) has landed in the hands of the Senate. Armstrong strongly encouraged the politicians to start debating it—because there’s nothing quite like a hearty discussion about digital assets to perk up a room full of exhausted senators. According to Armstrong, all that stands between the U.S. and financial innovation glory is “60 votes.” Sixty! That’s like 59 more friends than I have.
Congress has a real opportunity this week to advance stablecoin and market structure legislation. We strongly support the Senate starting debate on the GENIUS Act — and we need 60 votes to get there. We also welcome House efforts to build on FIT21’s momentum. Both chambers need…
— Brian Armstrong (@brian_armstrong) May 6, 2025
Armstrong doubled down on his message: “Protect the consumers! Nurture innovation!” Who could disagree? It’s the government equivalent of “don’t forget to eat your vegetables.” The GENIUS Act (sponsored by Senator Bill Hagerty, who either really loves crypto or just got tired of listening to his staff explain NFTs) promises to provide those sweet legal guardrails that the crypto industry claims to crave. Or, at the very least, offer some basic traffic signals for people who don’t see any problem driving their Lambo 120 mph into a pile of Monkey JPGs. 🐒🚗
Bipartisan support? Yes, apparently this is the one thing that can unite America’s politicians—presumably because nobody wants to be the person who accidentally killed innovation, or worse, has to explain stablecoins to Grandma at Thanksgiving. Armstrong’s zealous cheerleading for federal cryptocurrency laws proves the industry’s true desire: “Give us rules, so we can finally color inside the lines while inventing entirely new lines.”
Meanwhile, Capitol Hill continues its favorite pastime: debating whether the United States will maintain its “innovation edge” or get lapped by someone’s nephew in Estonia. The fate of stablecoins dangles in the balance, teetering between financial revolution and a very expensive, very public group chat for senators. Whatever the outcome, one thing remains clear: Everyone wants consumer protection and no one wants to be blamed when your digital dollar turns into Monopoly money. 💸🤹♂️
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2025-05-06 09:45