Stablecoin bill could trigger huge demand for US bonds
David Sacks claims clear rules on stablecoins could unlock major demand for US government bonds.
The White House is backing a plan to regulate stablecoins. Trump adviser David Sacks says it could bring trillions into US government bonds almost overnight.
He believes the GENIUS Act will give clear rules for stablecoins, which are currently unregulated. There’s already more than $200 billion in circulation, and legal clarity could unlock massive demand.
The bill passed a key Senate vote this week, with 66 senators in support, including 15 Democrats. Sacks says the administration expects it to pass fully and sees it as a way to modernise payments in the US.
He called stablecoins a faster, cheaper way to move money and said the bill would bring dollar-backed tokens under proper oversight.
But there are concerns over Trump’s links to the crypto world. His family supports World Liberty Financial, which recently launched a stablecoin called USD1. It is backed by US government bonds and dollar deposits.
The bill may still face delays. Senator Josh Hawley added a last-minute change to cap late payment charges on credit cards, which banking groups strongly oppose.
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