Sacks Says New Bill Allows Stablecoins To Soak Up Trillions—But Trump Ties Cloud The Push
A stablecoin bill sprinting toward the legislative goal line could unleash trillions in global demand for U.S. Treasuries and cement the dollar’s dominance in digital finance—at least if White House crypto adviser David Sacks gets his wish. But with President Donald Trump‘s family-linked crypto ventures casting a long political shadow, critics warn the future of fintech might come with a built-in conflict of interest.
What Happened: Speaking to Bloomberg on Thursday, Sacks said the legislation, if signed into law by the House of Representatives, would provide the regulatory clarity needed to expand stablecoin issuance and institutional adoption.
The bet is that it will ultimately boost global use of U.S. dollar-based digital assets.
“There’s already something like $250 billion in float of stablecoins… without there being a true regulatory framework in the United States,” Sacks said. “I think you could see other economies start to dollarize from the bottom up… and that would create potentially trillions of dollars of new …
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