Besant: The GENIUS Act is a financial watershed in the United States, and the OCC's final rule provides a clear foundation for innovation and competition in payment stablecoins

U.S. Treasury Secretary Becerra stated that the "GENIUS Act" is a watershed moment in the U.S. financial sector, further solidifying the United States' position as a global cryptocurrency hub.

He pointed out that just as President Lincoln's National Currency Act of 1863 established a national framework for banks to issue currency, the "GENIUS Act" establishes a federal framework for payment stablecoins in the digital age.

Becerra noted that the Office of the Comptroller of the Currency's (OCC) final rule advances the implementation of this landmark legislation, providing a clear and pragmatic foundation for private sector innovation, competition, and the United States' leadership in the digital asset space.