Key Notes

Wyoming Senator maintains her stance against reopening GENIUS Act legislation despite community banks' concerns about competitive disadvantages in stablecoin markets.

Three states have authorized community banks for digital asset custody, with Lummis urging traditional institutions to adapt or risk obsolescence.

The senator actively promotes crypto policy including US-UK fintech collaboration, defending Circle's firearm purchase policy, and advocating for strategic Bitcoin reserves.

Senator Cynthia Lummis expressed opposition on Nov. 5 to revising the GENIUS Act despite complaints from the banking industry over stablecoin regulations. The Wyoming Republican stated it was “so difficult to get GENIUS passed” that she is reluctant to reopen the legislation during a Bloomberg Tel

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