In a recent interview, Sacks basically did a victory lap, pointing out that 15 Democrats crossed the aisle to join Republicans in supporting the bill during the all-important cloture vote. Translation: filibuster? More like filibust-OUTTA here. đââď¸đ¨
âWe have every expectation now that itâs going to pass,â Sacks declared, probably while resisting the urge to pop confetti.
So why is everyone suddenly besties over this bill? Sacks broke it down into three reasons that even your grandma could understand (if sheâs into crypto):
- Stablecoins are like Venmo on steroidsâfaster, cheaper, and less likely to accidentally send your rent money to your ex.
- They help the U.S. dollar flex online, making sure America stays the cool kid at the global lunch table.
- They could drum up billions (or trillions, if youâre feeling ambitious) in demand for U.S. Treasuries, which is basically like giving Uncle Sam a bottomless piggy bank.
âWe already have over $200 billion in stablecoinsâitâs just unregulated,â Sacks pointed out, probably while side-eyeing the nearest lawyer. âIf we provide legal clarity, we could create trillions in Treasury demand practically overnight.â (No pressure, Congress.)
Sacks also went full 4D chess, tying the bill to Americaâs big-picture strategyâthink AI diplomacy in the Middle East and digital infrastructure as the new oil pipeline. Apparently, stablecoins are now part of our plan to make sure the U.S. stays the tech worldâs prom king. đđ¤
If (when?) the GENIUS Act passes, itâll be a historic win for crypto regulationâfinally giving legal clarity, turbocharging digital dollar innovation, and making sure America keeps its VIP seat at the global finance table. Cue the slow clap. đ
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2025-05-22 07:46