At the Consumer Policy Center. Here’s an excerpt from the announcement:
In July 2025, a new congressional law [the so-called Genius Ac] purported to provide adequate consumer protections for this new payment method. Yet, according to a Consumer Policy Center (CPC) report issued today, the law includes far fewer protections than provided for other payment methods such as checks, credit cards, and debit cards. For example, there is no protection for unauthorized transfers; there is no mandated procedure for issuers to investigate and resolve errors; there are few required disclosures; and there is no private right of action for consumers to sue over unfair and fraudulent actions.
“Consumers should be very cautious about using stablecoins to make payments,” said Mark Budnitz, an emeritus law professor and senior fellow at the Consumer Policy Center. “Users are at greater risk of fraud and deceptive practices than if they pay by check, credit card, or debit cards,” he added. Budnitz wrote the new CPC payment stablecoins report titled, “The GENIUS Act of 2025 Does Not Adequately Protect Consumers Who Use Stablecoins to Make Payments.” * * *
