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White House support for stablecoin regulation is gaining momentum as Trump advisor David Sacks says it could unleash trillions in U.S. Treasury demand almost overnight. The GENIUS Act recently cleared a key Senate hurdle with support from 66 senators including 15 Democrats.
Sacks called the bill a major win for the U.S. economy saying over $200 billion in stablecoins already exist but lack regulation. He believes legal clarity will drive massive capital into U.S. Treasuries and create a modern payment system that is cheaper faster and more efficient. The GENIUS Act aims to regulate dollar-backed digital currencies under federal oversight.
Despite strong support critics point to Trump’s financial ties to the crypto sector. His family backs World Liberty Financial which launched a stablecoin called USD1 backed by Treasuries and dollar deposits. Sacks did not address questions about conflicts of interest but stressed that stablecoins offer a powerful economic opportunity if properly regulated.
