Gemini signs joint letter to defend the original purpose of the Genius Act: Platforms should be allowed to continue providing stablecoin rewards
2025-12-20 08:22:20
Cryptocurrency exchange Gemini has announced that it has signed a letter with more than 125 companies and organizations, urging the US Congress to defend the original text of the Genius Act from being amended. It is reported that legal stablecoin rewards are good for consumers and competition and are legally permitted in the Genius Act, and amending the Act will undermine certainty and innovation. Gemini co-creator Tyler Winklevoss added that the Genius Act currently requires stablecoin issuers not to offer stablecoin rewards, but transaction intermediaries such as Gemini, Coinbase, and Kraken can and have been included in the current bill, which will discourage stablecoin innovation if the traditional bankers' amendment bill prohibits related activities.
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