Stablecoin payments, as allowed in the GENIUS Act, do not pose a real risk to community banks or local lending customers, despite what certain banking trades have said publicly.
Congress has already addressed these issues through the GENIUS Act, which establishes a clear statutory framework for stablecoin payments. The law established rules of the road and should not be revisited.
For any inquires, please contact TDC at press@digitalchamber.org.
The Digital Chamber (“TDC”) applauds Congressman David Schweikert (AZ-01) for introducing H.R. 4988, the Scam Farms Marque and Reprisal Authorization Act of 2025 calling for the creation of a Cyber Letter of Marque to combat state-linked cybercrime and transnational hacker networks. This reflects a direct recommendation from TDC’s recent report Blockchain and National Security: A Strategic Imperative.
As we stated in the report, cybercrime is a national security threat, a financial stability risk, and an attack on consumers to the tune of billions of dollars annually. As cyberattacks increasingly target America’s seniors, businesses, and critical infrastructure, traditional law enforcement tools alone are not enough to thwart the strident adversaries preying on vulnerable systems. This bill will empower the United States with a modern mechanism to pursue foreign cybercriminal enterprises and recover stolen assets by leveraging the most innovative talent in the world and deputizing licensed cyber operators.
Read the full TDC National Security Report and its recommendations here. TDC urges Congress to advance Rep. Schweikert’s bill to safeguard America’s digital leadership and provide accountability, deterrence, and protection in the digital battlefield.
If you have any questions, please reach out to policy@digitalchamber.org
Last Updated: June 5, 2025
We are united in our commitment to protecting the software developers building our financial future. Today, DeFi Education Fund, Coin Center, Solana Policy Institute, The Digital Chamber, Blockchain Association, Crypto Council for Innovation, and Bitcoin Policy Institute speak to Congress with one voice: include the bipartisan Blockchain Regulatory Certainty Act (BRCA) in market structure legislation.
As much-needed digital asset regulation develops in the United States, it is critically important to remember that developers creating peer-to-peer, non-custodial software and the infrastructure providers who enable decentralized networks have little in common with traditional financial institutions and should not be treated as such. The BRCA acknowledges this reality and ensures that when software developers or blockchain service providers do not control or custody customer funds, they are not inappropriately required to register as “money transmitting businesses” or liable for failing to do so.
Thank you to Rep. Tom Emmer, Rep. Ritchie Torres, and their staff for their leadership on this issue. We strongly encourage the House of Representatives to include the BRCA in the Digital Asset Market Clarity Act of 2025, and ensure that innovators across America can safely build financial infrastructure here – at home.
