Blockchain Association Backs GENIUS Act Stablecoin Rules, Urges Narrower Customer ID Scope

The trade group's backing of the GENIUS Act's stablecoin rules while pushing back on the reach of customer identification requirements signals where the industry's real lobbying energy sits: not on whether stablecoins get a federal framework, but on how far compliance obligations extend down the participant chain. That distinction matters most for smaller issuers and intermediaries, who would absorb identity-verification costs that larger players can spread across scale. Whether the narrower scope the Association seeks survives the rulemaking process is the open question, and it will shape how accessible stablecoin issuance remains.