US Senator Bill Hagerty recently said that the GENIUS bill will increase demand for US Treasuries and strengthen the position of the US dollar as a global reserve currency. The bill, which has passed a key Senate vote, will provide a legal framework for stablecoin offerings, requiring stablecoin reserves to be backed 1:1 by cash or short-term US Treasury bonds.
According to Citibank predictions, by 2030, stablecoin issuers could become the world's largest holders of U.S. Treasury bonds, holding up to $1.20 trillion.
US Senator Bill Hagerty: GENIUS bill will increase demand for US Treasuries
2025-05-22 15:12:43
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