Scott Bessent Predicts $2 Trillion Stablecoin Demand for U.S. Treasuries

In a recent interview, Scott Bessent, former Treasury official and CEO of Key Square Group, predicted that stablecoin issuers could inject up to $2 trillion into U.S. Treasury markets by leveraging new regulations gaining traction under the GENIUS Act. This potential surge in stablecoin-backed Treasury holdings aligns with growing government efforts to curb offshore crypto operations and establish clear rules for digital assets within the U.S. The GENIUS Act, aimed at enforcing full asset backing and AML compliance, is expected to drive this shift by fostering clarity for both businesses and investors in the crypto space.