Industry sources reveal that led by an industry lobbying organization, over 125 crypto institutions have jointly submitted a letter to the U.S. Senate, explicitly opposing the GENIUS Act.



What does this move reflect? Simply put, it shows the entire crypto ecosystem's concerns about the provisions of this bill. If the bill proceeds under the current framework, many organizations believe it could negatively impact industry development.

The participation of over 125 organizations is indeed significant. From exchanges and project teams to infrastructure service providers, they cover almost all segments of the crypto ecosystem. This indicates how widespread the opposition consensus is. Receiving this joint letter, the Senate must take this voice seriously—after all, it represents actual market participants.

Lobbying and policy negotiations are never simple. On one side are regulatory compliance considerations, and on the other are industry development demands. How the specific provisions of the GENIUS Act will be adjusted remains to be seen in the subsequent Senate review process. But at least for now, the crypto industry's stance is very clear.
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ArbitrageBotvip
· 12-20 02:45
125 institutions joint endorsement? The scale is indeed impressive, but will the Senate really change its mind... If this bill really passes, the biggest beneficiaries won't be the retail investors. The industry has actually united this time, but we're just worried it might be all talk. The name GENIUS Act is really annoying; regulators are just looking for trouble again. If lobbying were effective, there wouldn't have been a bear market long ago.
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DeFiCaffeinatorvip
· 12-20 02:39
125 institutions join forces? This move is really serious; it seems the GENIUS Act has truly hit a nerve. Honestly, such a large-scale opposition is hard for the Senate to ignore. Lobbying is all about making the numbers bigger, and now that it's achieved... But how to compromise afterward remains a question... Regulation and development will always be a deadlock.
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CryptoCross-TalkClubvip
· 12-20 02:38
Laughing out loud, 125 institutions jointly oppose, this is the rhythm of "saying no to the Senate together." I would call this move the crypto world's version of "United in Opposition," but I don't know if the senators will listen. Lobbying, to put it simply, is about who has the bigger fist—125 institutions versus regulatory agencies. We still have to see how this play unfolds. It's okay, anyway, we've long been used to being beaten by various Acts, whether there's a GENIUS or not doesn't make much difference. Honestly, instead of opposing, it's better to think carefully about how to survive. If we can survive the bear market, why fear a bill?
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