U.S. Treasury Secretary Bessant: The U.S. dollar will soon be on the blockchain, and the GENIUS Act will consolidate the dollar's position as a global reserve currency for generations to come

U.S. Treasury Secretary Bessant said in a post on the X platform that blockchain technology will power the next generation of payments, and the U.S. dollar is coming onchain. Thanks to Trump's leadership and Senator Bill Hagerty's important work in Congress, the GENIUS Act will help consolidate the dollar's position as the global reserve currency for future generations.

In addition, U.S. Treasury Deputy Secretary Michael Faulkender also said that with the GENIUS Act providing legal clarity for stablecoins, the United States now has a faster, cheaper and safer way to trade, which has increased global acceptance and demand for digital payments backed by the dollar and strengthened its commitment to making the United States the world's crypto capital.