Editor's PiCK
U.S. Treasury Undersecretary Says "Stablecoin Demand Will Reach Trillions of Dollars"
Suehyeon Lee
Summary
- Michael Faulkender, Under Secretary of the United States Department of the Treasury, predicted that stablecoin demand will reach trillions of dollars in the future.
- U.S. President Donald Trump announced that he signed the stablecoin regulatory legislation 'GENIUS Act', incorporating stablecoin into the official system.
- The legislation stipulates qualification requirements for stablecoin issuers and the obligation to maintain reserves at a 1:1 ratio with United States Dollar and other liquid assets.
Michael Faulkender, Under Secretary of the United States Department of the Treasury, discussed the growth outlook for the stablecoin market.
According to Cointelegraph on the 20th (local time), Undersecretary Faulkender stated in an interview with Bloomberg that "stablecoin demand will reach trillions of dollars in the future."
Meanwhile, U.S. President Donald Trump signed the stablecoin regulatory legislation called the 'GENIUS Act' on the 18th, formally incorporating stablecoins into the regulatory framework. The legislation stipulates qualification requirements for stablecoin issuers and includes a regulation that reserves must be maintained at a 1:1 ratio in United States Dollars or other equivalent liquid assets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
