French Hill, Chairman of the House Financial Services Committee, made the following statement after the Senate passed the Genius Act: The clear rules regarding stablecoins should have been established a long time ago. Today, we are one step closer to establishing a functional regulatory framework. I appreciate the Senate's passage of the Genius Act and the work of Chairman Scott, Senators Haggerty, and Loomis, who made history on this day. I look forward to working with my colleagues in the House of Representatives to bring much-needed clarity (regulation) and protection to the digital asset ecosystem