FOR IMMEDIATE RELEASE
Contact: J. Craig Shearman
(202) 257-3678 craig@shearmancommunications.com
WASHINGTON, May 16, 2025 – The Merchants Payments Coalition today encouraged prompt Senate floor consideration, debate and bipartisan passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, saying time is of the essence to establish a clear and comprehensive regulatory framework for stablecoin payments. Enactment of the GENIUS Act would be part of an important set of reforms to advance competition in domestic payment innovation, MPC said.
“The U.S. payments system desperately needs innovation, and a sound regulatory framework for stablecoins is one key step in achieving that,” MPC Executive Committee member and National Grocers Association Chief Government Relations Officer and Counsel Chris Jones said. “The GENIUS Act is a good step on the road to positive change.”
Earlier this year, MPC and the Payment Choice Coalition, which represents the stablecoin industry, said they would work together to advocate for policies that will bring competition and innovation to payments, bringing Main Street and digital payments businesses together around the shared goal of creating the regulatory structure needed to enable innovation in future payments.
MPC today thanked Senators Bill Hagerty, Cynthia Lummis, Kirsten Gillibrand, Angela Alsobrooks and Senate Banking Committee Chairman Tim Scott for their leadership in sponsoring the bill in an attempt to address the evolving landscape of digital payments and secure the U.S. as a global leader in payment technology.
About MPC
The Merchants Payments Coalition represents retailers, supermarkets, convenience stores, gasoline stations, online merchants and others fighting for a more competitive and transparent card system that is fair to consumers and merchants. Follow MPC on Twitter, Facebook or LinkedIn for the latest on swipe fees.
