Trump’s Crypto Czar David Sacks Foresees Stablecoin Bill Generating Trillions For US Treasury ‘Practically Overnight’
David Sacks, the top crypto and AI advisor to President Donald Trump, has projected that the impending stablecoin legislation could unlock trillions for the U.S. Treasury.
What Happened: Sacks expressed optimism about the bipartisan support for the stablecoin legislation currently being deliberated in the Senate. He suggested that establishing a legal framework for the already $200 billion worth of unregulated stablecoins could lead to a significant demand for U.S. Treasuries, according to a CNBC report on Wednesday.
If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasuries practically overnight, very quickly,” stated Sacks.
The GENIUS Act, a bill designed to regulate stablecoins, has passed a crucial procedural vote in the Senate. With support from 15 Democrats, the bill has enough votes to overcome a …
About The Author
