Trump’s Stablecoin Bill Gains Momentum in Senate

President Trump’s administration is optimistic about the potential success of the GENIUS Act, a US Senate bill aimed at regulating stablecoins. David Sacks, a senior advisor on crypto and AI to the President, believes the bill has strong chances of passing and could usher in a new era for the U.S. crypto market. He cites over $200 billion in existing stablecoin usage as a reason for this legislation’s necessity and potential to create trillions of dollars in demand for US Treasuries through increased demand.