U.S. Treasury Secretary Bessant: The passage of the GENIUS Act will make the prospects of the stablecoin market brighter

Odaily News U.S. Treasury Secretary Bensont said in a post on the X platform that recent reports predict that the stablecoin market could reach $3.7 trillion by the end of the next decade. With the passage of the GENIUS Act, the outlook for the stablecoin market will be even brighter. The stablecoin ecosystem will drive private sector demand for U.S. Treasuries, which are the backing of stablecoins. This new demand is expected to reduce government borrowing costs and help control national debt. It may also attract millions of new users to join the dollar-based digital asset economy worldwide. This is a win-win situation for all participants.