GENIUS Act Could Revolutionize US Stablecoin Market: Sacks Forecasts Boom

With bipartisan support, the GENIUS Act is gaining momentum in the Senate, poised to reshape the US digital asset industry with a new legal framework for stablecoins. David Sacks, a prominent advisor, predicts this bill will fuel massive demand for US Treasury securities by establishing a clear regulatory framework for stablecoin issuers. The act mandates issuers to hold reserves like cash or Treasury bonds, which could foster economic growth and enhance trust in the digital asset space.