On Friday, President Trump signed the GENIUS Act into law, a landmark bill to regulate cryptocurrency after it passed through the House and Senate. U.S. crypto regulation just took a major leap forward. The rules are real, and innovation can accelerate.

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Blockdaemon is proud to have been present for this pivotal milestone. Our CEO and Founder, Konstantin Richter, joined lawmakers and industry leaders at the White House on Friday for the signing ceremony, underscoring our deep commitment to building the secure, scalable infrastructure that powers compliant, next generation crypto servicers. 

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The GENIUS Act sets foundational rules for fiat-backed stablecoins, requiring 1:1 reserves, monthly public disclosures, and robust consumer protections. Its bipartisan passage through the House and Senate signals growing consensus that proactive legislation, not enforcement-first ambiguity, is the path forward.

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The momentum continues with the CLARITY Act, which addresses one of the industry's biggest pain points; defining when a digital asset is a security vs. a commodity. Together, these bills form the clearest regulatory roadmap the U.S. crypto ecosystem has ever seen.  

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This is the regulatory foundation institutions have been waiting for. For infrastructure providers like Blockdaemon, it’s a green light to scale responsibly and confidently with clear compliance expectations.

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Last week's signing doesn’t mark policy progress-it signals that the U.S. is ready to lead. With the GENIUS Act signed into law and the CLARITY Act gaining traction, America now has a real shot at leading the next era of the internet and the chance to shape the future of crypto from a position of strength, trust, and transparency.

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Michael Bassett serves as Head of Legal and Compliance at Blockdaemon, where he leads the company’s global legal, regulatory, and compliance initiatives. With over a decade of experience in the legal field, Michael brings deep expertise in blockchain infrastructure and emerging technologies.

He began his career in Big Law, where he advised startups and emerging growth companies on corporate, transactional, and regulatory issues. Prior to joining Blockdaemon, Michael was General Counsel at Horizen Labs, where he shaped legal strategy across protocol development, DAO governance, token issuance, and international compliance. He also co-founded the web3 startup Yord, serving as its General Counsel.

‍Michael holds a J.D. from Drexel University and a B.A. from the University of Delaware

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