The secretary of the Ministry of Treasury says that the dollar will now be integrated into block chains, since the US adopts a milestone law that creates a regulatory framework for Stablecoins.
In a message on the social media platform X, Scott Bessent out That the Greenback will embrace the technology that underlies cryptocurrencies after the signing of President Donald Trump of guidance and determining national innovation for US Stablecoins (Genius) Act.
The law sets strict legal standards for banks and qualified Stablecoin expenditure for the secure and transparent issue of payment stablecoins.
“Blockchain technologies will feed the next generation of payments and the US dollar will be on-chain.
Thanks to the visionary leadership of President Trump and the important work of Senator Hagerty in the congress, the Genius Act will help the US dollar cement as the global reserve currency for the coming generations. “
Bloomberg reports that Trump during a Ceremony of the White House on Friday Trump said The passage of the bill marks a big leap forward for American financial technology.
“The Genius Act creates a clear and simple regulating framework to determine and unleash the enormous promise of supported Stablecoins of Dollar. This can perhaps be the biggest revolution in financial technology since the birth of the internet itself.”
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Featured image: Shutterstock/Teo Tarras/Natalia Siiatovskaia