US Treasury Endorses Blockchain with GENIUS Act for Dollar Supremacy

U.S. Treasury Secretary Scott Bessent announced on July 20, 2025, that blockchain technology is set to revolutionize payments, highlighted by the GENIUS Act ratified under Trump’s leadership. The act underscores stablecoins’ potential to solidify the dollar’s global reserve standing.

This legislation aims to anchor the U.S. dollar’s role as a global reserve currency.

Crypto Market Surges as GENIUS Act Clears Stablecoin Path

The GENIUS Act, supported by Secretary Bessent and President Trump, introduces blockchain to U.S. payment infrastructure. Bessent commented on its potential to streamline payments by eliminating intermediaries. He has been quoted saying:

Immediate changes arise from the act as it offers much-needed legal clarity for stablecoins, potentially turning them into a multitrillion-dollar industry. House Financial Services Chair French Hill highlighted the bill’s role in maintaining U.S. economic competitiveness.

“Stablecoins represent a revolution in digital finance. The dollar now has an internet-native payment rail that is fast, frictionless, and free of middlemen. This groundbreaking technology will buttress the dollar’s status as the global reserve currency, expand access to the dollar economy for billions across the globe, and lead to a surge in demand for US Treasuries, which back stablecoins. The GENIUS Act provides the fast-growing stablecoin market with the regulatory clarity it needs to grow into a multitrillion-dollar industry. The signing of this bill marks a seminal moment for digital assets and dollar supremacy.”

Market reactions have been swift, with cryptocurrencies like Ethereum and Bitcoin experiencing substantial gains. Bessent noted that legislation enhances market stability, driving U.S. Treasuries’ demand while reflecting global optimism for U.S. crypto clarity.

Market Reactions and Future Outlook

Did you know? The introduction of stablecoins could lead to a significant transformation in how digital currencies are integrated into everyday transactions.

Following the announcement of the GENIUS Act, the cryptocurrency market saw a notable uptick in trading volumes, particularly for major assets like Bitcoin and Ethereum.

Analysts predict that the clarity provided by the GENIUS Act may attract more institutional investment into the cryptocurrency space, further solidifying the U.S. dollar’s position in the global economy.