IFA Applauds GENIUS Act Passage

Bill ensures franchised small businesses can offer stablecoin to interested consumers in a safe and efficient manner; IFA President and CEO Matt Haller serves as coalition lead advocating for stablecoin framework

WASHINGTON – Today, International Franchise Association (IFA) President and CEO Matt Haller, who also serves as president of the Payment Choice Coalition, issued the following statement after the U.S. House voted to approve the GENIUS Act on a bipartisan basis:

“The broad bipartisan support for the GENIUS Act speaks to the pressing need for a structured, secure, and competitive payment ecosystem that benefits local franchise businesses and consumers alike. We were encouraged that the vote brought members from both parties together around the principle of a commonsense legislative framework for stablecoin issuance to lower costs for business owners. This legislation will allow franchised small businesses the ability to offer stablecoin to interested consumers in a safe and efficient manner.”

The bill follows Senate passage in June and now heads to the president’s desk for signature.

Launched in November 2024, the Payment Choice Coalition is comprised of small business owners, including franchises and other merchants seeking a bipartisan legislative framework for stablecoin issuance while educating businesses and consumers on its applications.

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About the International Franchise Association:

Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the approximately 830,000 franchise establishments that support nearly 8.8 million direct jobs, $896.9 billion of economic output for the U.S. economy, and almost 3 percent of the gross domestic product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.