Editor's PiCK
U.S. Treasury Secretary: "Stablecoins Will Strengthen Dollar Dominance"
Suehyeon Lee
Summary
- Scott Bessent, U.S. Treasury Secretary, stated that stablecoins will further solidify the dominance of the U.S. dollar.
- He mentioned that stablecoins could become one of the biggest buyers of U.S. Treasury bonds.
- The U.S. Senate passed the stablecoin bill (GENIUS Act), and former President Trump also expressed his intention to sign the bill.
Scott Bessent, U.S. Treasury Secretary, stated that stablecoins will further solidify the dominance of the U.S. dollar.
According to The Block on the 19th (local time), Secretary Bessent said in an interview posted on X, "Stablecoins can strengthen the dominance of the dollar. This is because stablecoins can become one of the biggest buyers of U.S. Treasury bonds."
His remarks came a day after the U.S. Senate passed the stablecoin bill, the GENIUS Act. The bill now awaits a vote in the House and President Donald Trump's signature. Previously, Trump had expressed his desire to sign the stablecoin bill by August.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
