Treasury Secretary Scott Bessent backed the implementation of the GENIUS Act on Monday, also known as the stablecoin bill, citing its potential to secure “American leadership” in digital assets.
Bessent Says Stablecoins Would Expand Dollar Access
In an X post, Bessent highlighted the role of stablecoins in expanding dollar access globally and boosting demand for U.S. Treasuries.
“It’s a win-win-win for everyone involved: stablecoin users, stablecoin issuers, and the U.S. Treasury Department,” Bessent stated.