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Bipartisan Stablecoin Bill Nears Senate Passage, Could Boost U.S. Treasury Demand
Bipartisan Stablecoin Bill Nears Senate Passage, Could Boost U.S. Treasury Demand
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David Sacks, senior crypto adviser to former President Donald Trump, revealed on May 21 that the GENIUS Act—landmark stablecoin legislation—is gaining bipartisan momentum in the U.S. Senate. The bill has cleared a critical procedural hurdle with support from 15 Democrats, signaling likely passage.
The legislation aims to bring regulatory clarity to the $200 billion stablecoin market. Sacks positioned it as both a financial and geopolitical inflection point, arguing that federal recognition of dollar-pegged digital assets could unlock trillions in global demand for U.S. Treasuries.
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