PANews reported on July 19 that David Sacks, the White House Cryptocurrency and AI Director, tweeted, "President Trump signed the GENIUS Act, establishing a legal framework for stablecoins. This bill will reverse the past four years of 'prosecutorial regulation' by establishing clear rules, thereby unlocking the United States' leadership in the cryptocurrency industry. It will replace outdated payment methods with a revolutionary new blockchain-based payment system. Additionally, it will expand the global dominance of the US dollar by creating a globally universal digital dollar."
David Sack: The GENIUS Act will replace outdated payment methods with a new blockchain-based payment system
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