Stablecoin Legislation Could Push Crypto Market to $20 Trillion

Trump’s Digital Asset Advisory projects the crypto industry may reach up to $20 trillion with new legislation.

Bo Hines, Executive Director at Trump’s Digital Asset Advisory, projected a $20 trillion scale for the crypto industry pending stablecoin legislation. The proposed legislation seeks to legitimize the stablecoin market, which could result in substantial growth and strengthen the U.S. position globally.

Stablecoin Legislation Projects Crypto Market at $20 Trillion

Bo Hines has suggested the crypto market could scale to 15 to 20 trillion U.S. dollars with the upcoming stablecoin legislation. Statements signal a significant push to expand the U.S. market presence post-law enactment. The legislative focus is on stablecoin regulation, emphasizing 1:1 backing and strong audits. Hines aims for legislation completion by August to solidify market foundations. As Hines stated, “crypto legislation is well on track” for completion before the August Congressional recess, aiming to lay the “groundwork for all future actions” in the sector.

The administration under Trump promotes a favorable environment for crypto, expecting increased institutional engagement. This move reportedly positions the United States as a leader in the crypto market. The policy anticipates BTC and ETH growth. The community has shown positive sentiment, with many viewing this as a step towards legitimization and increased capital inflows. Despite optimism, details on government actions remain sparse.

“We are well on our way to becoming the Bitcoin superpower of the world. This is something that is not partisan. This is a revolution in our financial system. Bitcoin is truly the golden standard… This is an asset that we should be harnessing on behalf of the American people. We want as much as we can possibly get.” — Bo Hines, Bitcoin Magazine

U.S. Plans Global Leadership Through Stablecoin Stability

Did you know? The U.S. federal stablecoin legislation marks a significant first, aiming to synchronize legal frameworks across the industry, similar to the EU’s MiCA impact on local markets.

Bitcoin (BTC) is priced at $109,561.36, backed by a market cap of $2.18 trillion, holding 64.41% dominance. Its 24-hour trading volume dropped by 12.71% to $49.27 billion. The price increased by 0.46% over 24 hours and has risen by 30.50% over the past 90 days, according to CoinMarketCap.

The Coincu research team highlights that the GENIUS Act could pave the way for regulated growth, positioning BTC favorably due to increased confidence in backed fiat stablecoins. Institutional trust may solidify the market, influencing BTC’s standing in the global financial landscape.