<ul><li>Alex Thorn of Galaxy rebuts NYT criticism of the GENIUS Act as 'lazy and incongruous,' emphasizing it as a positive step for U.S. financial infrastructure.</li><li>Thorn highlights the Act's introduction of federal oversight to address concerns regarding stablecoin growth and systemic risks, establishing rules for collateral, KYC/AML, consumer protection, and bankruptcy remoteness.</li><li>He asserts the GENIUS Act is focused on enhancing dollar dominance and innovation through blockchain technology, improving settlement speed and global accessibility.</li><li>The bill includes measures like banning yield for stablecoin holders to prevent capital flight, incorporating a blacklist compliance model, and aims to provide regulatory clarity for traditional finance engagement with digital assets to strengthen U.S. leadership in the financial landscape.</li></ul>

Galaxy’s Alex Thorn Rebuts NYT Criticism, Calls GENIUS Act a Win for Dollar Dominance and Innovation

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