Treasury Secretary Scott Bessent Says US Dollar Coming On-Chain As Landmark Stablecoin Bill Becomes Law – The Daily Hodl

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The secretary of the Department of the Treasury says the greenback will now be built-in into blockchains because the US passes a landmark invoice making a regulatory framework for stablecoins.

In a put up on the social media platform X, Scott Bessent says that the buck will embrace the know-how underpinning cryptocurrencies following President Donald Trump’s signing of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

The regulation units strict regulatory requirements for banks and certified stablecoin issuers to make sure the safe and clear issuance of cost stablecoins.

“Blockchain applied sciences will energy the following era of funds, and the US greenback is coming on-chain.

Thanks to President Trump’s visionary management, and Senator Hagerty’s essential work in Congress, the GENIUS Act will assist cement the US greenback as the worldwide reserve forex for generations to come back.”

Bloomberg reviews that in a White House ceremony on Friday, Trump mentioned the invoice’s passage marks a serious leap ahead for US monetary know-how.

“The Genius Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins. This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.”

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