According to ChainCatcher, the White House's Crypto and AI Director, crypto czar David Sacks, stated, "President Trump continues to create historic victories. Today, he signed the GENIUS Act, which establishes a legal framework for stablecoins."
This law will reverse the regulatory approach of the past four years by establishing clear rules, thereby unlocking US hegemony in the crypto industry.It will update the ancient payment system with a revolutionary new blockchain-based payment system. It will extend the dollar's global hegemony by creating digital dollars accessible to people worldwide.
Each digital dollar in crypto wallets will correspond to an equivalent dollar reserve in US bank accounts, which will create trillions of dollars in demand for US Treasury bonds. This is another example of President Trump fulfilling his promises.
Additionally, the House has passed the CLARITY Act, or Market Structure Act, which President Trump has promised to support and submit to the Senate. President Trump pledged to make the US the world's crypto capital, and he has already fulfilled this promise."
