Tarbert: GENIUS Act Sets Federal Stablecoin Rules, CLARITY Act Next
Circle president Heath Tarbert testified the GENIUS Act created a federal payment-stablecoin framework and called for the CLARITY Act to regulate digital-asset markets.
Heath Tarbert, Circle president and former CFTC chair, testified before the House Financial Services Committee that the GENIUS Act established a federal regulatory framework for payment stablecoins.
Tarbert described the framework as a dollar layer for the internet financial system and urged Congress to pass the CLARITY Act to complete regulation of the digital-asset market layer.
He added that final GENIUS Act rules must close offshore regulatory arbitrage, restrict non-compliant intermediaries serving U.S. customers, and require comparable standards for foreign issuers.
No timeline was provided for CLARITY Act passage or for final GENIUS Act implementation rules.