In July 2025, the US took a big step in the crypto regulatory space. President Trump promised to create the US as the crypto capital of the world, the House declared crypto week, democrats opposed it, GENIUS Act legislation — all of this changed the country’s position on cryptocurrency and other digital assets.
While the lawmakers were creating bills, the crypto industry actors proactively shared their opinions. Major crypto players from Ripple, Coinbase, and TRON praised the GENIUS Act legislation and called it a win for the US.
Major Crypto Player Reacting to GENIUS ACT
Ripple CEO, Brad Garlinghouse, shared his delight on X, praising the US lawmakers for passing the GENIUS ACT. He applauded that the US is moving toward innovation in the financial space, and said the last major financial regulation bill was 15 years ago.
Garlinghouse stated, “This moment is a historic one, and I, for one, am looking forward to all that is to come as a result of this transformational legislation. Thank you to the bipartisan leaders that got it done.”
While Garlinghouse highly anticipated the passing of stablecoins legislation, Ripple’s Chief Legal Officer, Stuart Alderoty, advocated for the creation of clear rules in digital assets. He sees the stablecoin legislation as a massive win for Americans, as it is expected to provide more clarity on the regulations.
Alderoty stated, “There’s movement on workable, clear frameworks for crypto and stablecoins that will both foster innovation and protect consumers. This is exactly what the American people have been asking for.”
GENIUS Act: The Blueprint for Digital Assets
Crypto billionaire and founder of TRON, Justin Sun, positively acknowledged the GENIUS Act from the beginning. He emphasized that the stablecoin legislation serves as a blueprint for responsible innovation in the digital assets space. He supported the move, signifying it as a turning point for the US.
Paul Grewal, the Legal Officer at Coinbase, shared similar views on stablecoin legislation and other new bills in the US. Grewal and Sun both encouraged the bill for the US to become dominant in the global crypto space. Grewal stated that this bill can pave the way to maintain US dollar dominance, as $190 billion in dollar-backed stablecoins are already in circulation globally. He showed his gratitude for the US Constitution and appreciated its innovative ideas on digital assets.
