Most Influential: Sen. Bill Hagerty
Senator Bill Hagerty sponsored the GENIUS Act, the first stablecoin legislation to become U.S. law in July 2025.Summary
Tennessee Republican Senator Bill Hagerty was instrumental in passing the first major piece of U.S. legislation addressing crypto issues, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), which was signed into law in July 2025. This law established rules for stablecoin issuers operating in the U.S. and directed federal regulators to create specific enforcement guidelines. Hagerty highlighted the bill's bipartisan nature and argued that beyond reducing counterparty risk and transaction costs, it would significantly bolster the global dominance of the U.S. dollar, which he felt was degrading.
Stablecoins are a rapidly growing segment of the crypto market, with projections suggesting they could reach a nearly $2 trillion market capitalization by the end of the decade.
(Source：CoinDesk)