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Why US Crypto Czar David Sacks Backs GENIUS Act Stablecoin Bill
Why US Crypto Czar David Sacks Backs GENIUS Act Stablecoin Bill
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David Sacks, former crypto advisor to President Trump, has thrown his weight behind the GENIUS Act stablecoin bill, citing its potential to drive aggressive demand for U.S. Treasuries. Introduced in February, the bill seeks to provide regulatory clarity for stablecoins—a move Sacks believes could bolster the struggling appeal of U.S. debt instruments.
Moody’s recent credit downgrade of the U.S. has amplified concerns among investors, with Sacks framing stablecoins as a strategic lever to counteract waning Treasury demand. His CNBC remarks underscore a growing institutional narrative: crypto-backed dollar instruments may soon become a cornerstone of fiscal policy.
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