The White House Commends <i>GENIUS Act</i> Passage: Paving the Way for the U.S. to Lead the Global Digital Currency Revolution

By: theblockbeats.news|2025/07/20 09:52:06

BlockBeats News, July 20th, the White House issued a statement praising the passage of the "GENIUS Act," referring to it as a landmark piece of legislation that will pave the way for the United States to lead the global digital currency revolution. President Trump stated that the act "has created a clear and concise regulatory framework to establish and unleash the immense potential of a USD-backed stablecoin. This may be the greatest revolution in the fintech sector since the birth of the internet."

Bo Hines, Executive Director of the President's Digital Asset Advisory Committee, stated: "We are ensuring the dominance of the US dollar, fostering innovation, and ensuring that the United States permanently controls the future of digital finance."

White House Cryptocurrency Czar David Sacks said: "Today, we have achieved another historic legislative milestone, which is a significant step in President Trump's commitment to making the United States the capital of the world's cryptocurrency."

Treasury Secretary Scott Bessent said: "Blockchain technology will drive the next generation of payments, and the US dollar is about to go on-chain. Thanks to President Trump's visionary leadership. The GENIUS Act will help solidify the dollar's position as the global reserve currency for generations to come."

-- Price

By establishing a framework based on the principle of "general law" and broadly defining the function of "payment tools," future innovations can be automatically included in the regulatory perspective, thereby breaking the passive cycle of "innovation-regulation-re-innovation-re-regulation" and guid...

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