On the first anniversary of the GENIUS Act, Anchorage and Lummis promote CLARITY Act in U.S. encrypt

The anniversary of the GENIUS Act: The debate on cryptocurrency regulation in the United States has once again begun.

The GENIUS Act has been implemented for one year, reigniting discussions on cryptocurrency regulation in the United States. Lawmakers and industry leaders are calling for broader reforms to protect market participants. The stablecoin rules established by the bill are now seen as a potential blueprint for extending federal regulation to the entire digital asset space.

Policy Milestones and Industry Response

Mike Selig, current chairman of the U.S. Commodity Futures Trading Commission (CFTC), called the GENIUS Act a turning point in U.S. digital asset policy. He expressed gratitude to President Donald Trump and Senator Bill Hagerty for pushing the bill forward, and noted that the CFTC plans to build on this to provide clearer guidance to industry and American consumers.

"One year after the GENIUS Act came into effect, the United States has become the world's encryption capital. Thanks to President Donald Trump and Senator Bill Hagerty, it was their leadership that made this possible. The CFTC will inherit this leadership and bring more clarity to the American people." Selig said.

The core of the GENIUS Act is to establish a clear regulatory framework for stablecoins and bring more digital asset activities into the scope of U.S. regulation. Proponents believe the bill allows companies to operate under clearer legal protections, thereby encouraging the return of financial activity to U.S. regulated markets.

Federally chartered crypto bank Anchorage Digital said the bill is a key policy test. The agency pointed out that since the implementation of the bill, major stablecoin issuers have significantly returned to the United States, and institutional participation has also increased significantly.

(Note: Anchorage Digital is a US-based, federally regulated digital asset platform that provides crypto custody and banking services to institutional customers.)

The company reported that global companies are now more inclined to choose U.S. infrastructure for digital asset transactions, citing capital commitments by institutions as evidence that the industry is increasingly aligned with new stablecoin regulatory rules.

"The GENIUS Act is a test: Can the United States pass thoughtful legislation to bring booming industries back home? Today, a year later, the answer is obvious-institutions have invested real money, and global companies have chosen U.S. infrastructure to develop digital assets."

stablecoins and broader calls for reform

Because stablecoins are closely related to payment systems and regulatory compliance, they have always been a core issue in policy discussions. Anchorage Digital emphasized that clear rules allow crypto issuers, custodians and financial institutions to better manage compliance obligations and operational risks.

Despite these advances, Anchorage Digital pointed out that more legislative measures are needed to address broader market structure issues. The agency urged Congress to advance new legislation to establish comprehensive rules for digital assets other than stablecoins.

CLARITY Bill debate and customer protection

The proposed CLARITY Bill aims to clarify regulatory responsibilities between agencies such as the Securities and Exchange Commission (SEC) and the CFTC, while setting clear standards for exchanges and token issuers across the digital asset industry.

Senator Cynthia Loomis, who is an active advocate of cryptocurrency regulation, pointed out that in the recent failures of platforms such as Celsius, Voyager and FTX, customer assets were treated as corporate property at the time of bankruptcy. She emphasized that the lack of clearly defined rules resulted in significant losses to users and called for stronger customer protection in future legislation.

Loomis called for bipartisan support for the CLARITY Act to ensure that client assets are protected in bankruptcy cases and prevent similar asset misdisposal issues in the future. The current legislative debate will determine whether the results of the GENIUS Act can be extended to the broader digital asset market.