Amazon and Walmart Eye Stablecoin Issuance as GENIUS Act Moves Forward, Sparking Political Clash

Major retailers Amazon and Walmart are quietly exploring the launch of proprietary stablecoins, igniting heated debate in Washington as the GENIUS Act nears a critical Senate vote. Lawmakers and advocacy groups are warning that the legislation could open the door for tech and retail giants to issue digital currencies with minimal oversight.

Big Retail’s Stablecoin Ambitions Draw Scrutiny

According to recent reports, both Amazon and Walmart are actively considering launching their own stablecoins—digital tokens pegged to the U.S. dollar—should the GENIUS Act become law. The legislation would for the first time provide U.S. companies with a clear legal structure for issuing stablecoins, a move that’s fueling interest from tech firms and retailers eager to cut costs and gain new customer data. While neither Amazon nor Walmart has publicly commented, insiders suggest they and other large merchants are prepared to roll out digital currencies designed for their ecosystems if given the regulatory green light.

Legislators Warn of Risks from Big Tech Stablecoins

The growing momentum has alarmed some policymakers. Senator Elizabeth Warren (D-MA) strongly denounced the prospect, highlighting what she describes as a loophole in the GENIUS Act that could let Big Tech and America’s largest retailers launch private, company-branded stablecoins. Warren argued this would hand outsized power to a handful of billionaires and corporations, potentially allowing them to track purchases, monetize data, and edge out smaller competitors—while posing new risks to financial stability if the system falters. Warren and a chorus of consumer advocates insist the Act should not proceed without stricter checks on corporate stablecoin issuance.

Key Stats & Figures

• GENIUS Act Status: Poised for a final Senate vote as early as next week, with broad expectations of passage before moving to the House.
• Retailer Participation: Amazon, Walmart, and Expedia are reportedly assessing stablecoin issuance plans tied to new regulatory clarity.
• Stablecoin Market Role: Stablecoins function as dollar-pegged crypto tokens—serving as vital on-ramps between digital assets and traditional finance.
• Potential Fee Impact: Merchants currently pay billions annually in payment processing fees—stablecoins could allow them to bypass these costs.

Industry, Advocacy, and Policy Perspectives Collide

The GENIUS Act’s path has not been free of controversy. Last-minute Democratic amendments aimed to rein in possible overreach, yet advocates warn the bill still leaves the door open for powerful tech companies to glean customer financial data if they launch stablecoins. Critics from the Consumer Federation of America and nonprofit Better Markets say the rise of retailer-backed digital currencies could threaten independent businesses, create payment monopolies, and blur the line between commerce and banking—a division tied to U.S. financial safeguards for decades.

Conclusion: What This Means for the Market

The surge of interest from retail and tech behemoths in launching stablecoins underscores digital assets’ increasing integration with mainstream finance. While industry leaders and some legislators see stablecoins as a step toward innovative infrastructure and cost efficiency, others remain wary of unchecked corporate influence and data exploitation. The next few weeks could prove decisive, as Congress weighs whether to prioritize innovation—or erect additional barriers to tame it.