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Michael Faulkender: Could See Trillions in Demand for Stablecoin
Posted
July 19, 2025
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8:02Now PlayingPresident Donald Trump signed the first federal bill to regulate stablecoins, hailing it as a “giant step to cement American dominance of global finance and crypto technology” and delivering a major victory for the digital asset industry.
“The Genius Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins,” Trump said Friday at a White House ceremony. “This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.” The measure sets regulatory rules for US dollar-backed stablecoins, including a requirement for firms to hold dollar-for-dollar reserves in short-term government debt or similar products overseen by state or federal regulators. Advocates see it as allowing for the broader adoption of digital assets in finance. US Treasury Deputy Secretary Michael Faulkender says we could see trillions of dollars in demand for stablecoin.
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