A bipartisan group of U.S. senators is urging the Treasury Department to ensure states keep an active role in the regulation of stablecoins under the GENIUS Act framework. According to multiple reports, the senators are pressing Treasury to design its GENIUS-related application process in a way that does not exclude states from demonstrating their supervisory authority. The lawmakers—led by Republican Senator Cynthia Lummis in one account—argue that the process should include a mechanism for states to prove they have the capability to regulate stablecoins. The senators’ position, described across the sources, emphasizes “state participation” and seeks to preserve and promote state involvement rather than centralize oversight solely at the federal level.
The reports focus on the senators’ message to Treasury and their request that state regulators receive a clear role within the GENIUS Act implementation. They do not describe final actions by Treasury or any specific regulatory outcome, but they outline the lawmakers’ shared view that state oversight should remain part of the stablecoin compliance and supervisory process.
