According to Gemini’s official statement, altering the GENIUS Act could undermine legal stablecoin rewards, harming innovation and market certainty for over 125 co-signing companies.
Gemini has officially announced its participation in a coalition of over 125 companies that signed a letter to the U.S. Congress, urging lawmakers to maintain the GENIUS Act without changes. In its statement on X, the exchange emphasized that lawful stablecoin rewards are beneficial to consumers and competition and are permitted under current law. Gemini warned that modifying the legislation now would negatively impact regulatory clarity and hinder innovation in the sector.