Ripple and Coinbase Leaders Praise GENIUS Act as Clear Step for Crypto Future

Highlights:

• Ripple CEO calls the GENIUS Act a major milestone for clarity and progress in finance.
• Coinbase and SEC leaders say the bill strengthens the dollar and supports tokenization efforts.
• Crypto markets rally as the House passes GENIUS, CLARITY, and Anti-CBDC bills on Thursday.

Ripple CEO Brad Garlinghouse shared his thoughts on X following the approval of the GENIUS ACT by US lawmakers. He viewed the development as a strong signal that the country is beginning to embrace innovation within the financial sector. Highlighting the gap in modern regulation, he reminded that no major financial law had been passed in the past 15 years. Garlinghouse said, “This moment is a historic one, and I, for one, am looking forward to all that is to come as a result of this transformational legislation. Thank you to the bipartisan leaders that got it done.”

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The last major financial regulation bill was passed 15 years ago in response to the 2008 financial crisis.
Tomorrow, the signing of the GENIUS Act cements the US’s future in being a leader in truly innovative financial technology – stablecoins. This moment is a historic one, and… https://t.co/002tVEofWs

— Brad Garlinghouse (@bgarlinghouse) July 17, 2025

Ripple and Coinbase Support New Law for Clearer Rules in the US

Brad Garlinghouse was waiting for the stablecoin law to pass. At the same time, Ripple’s Chief Legal Officer, Stuart Alderoty, said there should be clear rules for digital assets. He believes the new law is a big win for Americans because it will bring more clarity. Alderoty stated, “There’s movement on workable, clear frameworks for crypto and stablecoins that will both foster innovation and protect consumers. This is exactly what the American people have been asking for.”

The GENIUS Act now goes to the President’s desk, and the CLARITY Act moves forward to the Senate – at long last, there’s movement on workable, clear frameworks for crypto and stablecoins that will both foster innovation and protect consumers. This is exactly what the American… https://t.co/keR2jFMzCX

— Stuart Alderoty (@s_alderoty) July 17, 2025

Coinbase Chief Legal Officer Paul Grewal also commented on the new stablecoin bill and crypto laws. He said this bill might help keep the US dollar strong, as there are already $190 billion worth of dollar-backed stablecoins being used worldwide. He also thanked the US Constitution and praised its support for new ideas in the digital space.

Moreover, the Securities and Exchange Commission Chairman, Paul Atkins, called the stablecoin law, the GENIUS Act, a big moment for the US in becoming a global crypto hub. He also pointed out that the SEC is actively working on digital asset rules. He shared that the SEC is now looking at what more can be done to support tokenization. This includes possible rule changes, like creating an innovation exception, to allow new trading methods and help build the tokenized securities system step by step.

Lawmakers Advance Crypto Bills, Triggering Market-Wide Rally

During a Thursday meeting, the US House approved three important crypto-related bills. The Digital Asset Market Clarity (CLARITY) Act received strong support with a 294-134 vote. The GENIUS Act followed closely behind, passing with a 308-122 majority. Meanwhile, the Anti-CBDC Surveillance State Act was passed with a narrower margin of 219-210. Nearly 80 Democratic members backed the CLARITY Act, while more than 100 voted in favor of the GENIUS Act.

Crypto markets showed a strong response after the House approved the three key crypto bills. Bitcoin climbed once more above the important $119,000 mark and is now aiming for fresh highs. Earlier this week, BTC had already touched a new all-time high of $123,000, as investors expected positive news from Congress. XRP also surged following the developments, gaining momentum as market confidence increased. The passage of these bills appears to be boosting optimism across major digital assets.

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