U.S. Treasury Secretary Bessent: Passage of the GENIUS Act Will Brighten the Outlook for the Stablecoin Market

U.S. Treasury Secretary Besant stated on the X platform that recent reports predict 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 become even brighter. The stablecoin ecosystem will drive private sector demand for U.S. Treasury bonds, which serve as the backing for stablecoins. This new demand is expected to lower government borrowing costs, help control national debt, and potentially attract millions of new users worldwide to the dollar-based digital asset economy. This represents a win-win-win situation for all participants.