Edvards Margevics
DIGITAL ASSETS
Edvards Margevics
CBDO & Partner CONCRYPT
THE BROADER SIGNAL MATTERS: THE U. S. IS NO LONGER SITTING ON THE SIDELINES AND THE GENIUS ACT PROVIDES A CREDIBLE LEGAL PERIMETER AND A MANDATE TO BUILD RESPONSIBLY
Edvards Margevics
Edvards Margevics, CBDO and Partner at CONCRYT, offers his view on the GENIUS Act.
“ The GENIUS Act is a milestone for stablecoin regulation in the U. S. But like most compromises, it’ s far from perfect. While it finally offers a national framework for payment stablecoins, it also leaves key questions unanswered around interoperability, enforcement consistency and long-term coordination between state and federal regulators.
“ From CONCRYT’ s perspective, the Act is a strong first step, especially in establishing baseline expectations for reserve management, disclosures, and consumer protection. That clarity is essential. But clarity isn’ t the same as completeness.
“ There’ s still significant work ahead to ensure that implementation doesn’ t fragment the ecosystem or introduce unintended barriers to entry, particularly for smaller fintechs or cross-border issuers.
“ We’ re also watching closely how the duallicensing pathway plays out in practice. While it gives states a continued role in innovation, it could also reinforce a patchwork dynamic that the industry has spent years trying to escape.
“ Still, the broader signal matters: the U. S. is no longer sitting on the sidelines. For institutions trying to enter the stablecoin space with confidence, the GENIUS Act provides a credible legal perimeter and a mandate to build responsibly. That’ s a welcome shift, even if the road ahead remains complex.
168 September 2025