Ricketts Celebrates Passing of GENIUS Act

WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE) joined Senate colleagues in voting to pass the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act.  The landmark legislation provides guardrails for using stablecoins.  Senator Ricketts secured the inclusion of an amendment which would allow for an expedited certification process for states, like Nebraska, that have already put a stablecoin regulatory framework in place.  As Governor, Pete Ricketts signed the Nebraska Financial Innovation Act into law—making Nebraska the second state in the country to allow digital asset depositories.  Ricketts is a co-sponsor of the GENIUS Act.

“The GENIUS Act protects consumers while promoting innovation and opportunity,” said Ricketts.  “It prioritizes national security and advances the U.S. dollar.  Nebraska’s a major innovator in the stablecoin space and my amendment will give priority to states like ours when becoming certified.”

Full text of the legislation can be found here.  The bill was introduced by Senator Bill Hagerty (R-TN) and additional co-sponsors include Senators Angela Alsobrooks (D-MD), Kirsten Gillibrand (D-NY), Cynthia Lummis (R-WY), and Tim Scott (R-SC).