The U.S. Department of the Treasury issued a statement following the President’s signing of the GENIUS Act, presenting the law as providing regulatory clarity for the fast-growing stablecoin market and supporting the use of the USD in digital finance. Treasury Secretary Scott Bessent described stablecoins as an “internet-native payment rail” that could expand access to the dollar economy globally and reinforce the dollar’s role as the global reserve currency. He also linked stablecoin growth to increased demand for U.S. Treasuries, which he said back stablecoins, and stated that the GENIUS Act could support the market’s expansion into a multitrillion-dollar industry.
U.S. Department of the Treasury 2025-07-18
U.S. Department of the Treasury welcomes enactment of GENIUS Act as regulatory clarity for stablecoins
The U.S. Department of the Treasury announced the GENIUS Act, signed by the President, to provide regulatory clarity for the stablecoin market and bolster the USD's role in digital finance. Treasury Secretary Scott Bessent highlighted stablecoins as a potential global payment rail that could enhance access to the dollar economy and increase demand for U.S. Treasuries. The Act is expected to support the stablecoin market's growth into a multitrillion-dollar industry.