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GENIUS Act to 'Create Trillions in US Treasury Demand,' Asserts Special Crypto Envoy Sachs

2025/05/23 09:36 (Updated 2025/05/23 13:01)

CoinPost

Written by L.Kikutani

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GENIUS Act to 'Create Trillions in US Treasury Demand,' Asserts Special Crypto Envoy Sachs

Is 'Trillions in Demand' Feasible?

David Sachs, the cryptocurrency and AI special envoy under President Trump, stated on the 21st that he anticipates the stablecoin regulation bill currently under deliberation in the US Senate will pass with 'significant bipartisan support'. In a CNBC interview, he claimed that by establishing a legal framework for over $200 billion in unregulated stablecoins, it could effectively create trillions in demand for US Treasuries overnight. This comes against a backdrop of sluggish new US Treasury auctions and soaring long-term bond yields.

The regulation bill, known as the 'GENIUS Act', passed a procedural vote on the 20th with 66 votes in favor and 32 against, overcoming a filibuster...

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