U.S. Senator Bill Hagerty: The GENIUS Act will strengthen demand for U.S. Treasury securities

TechFlow, May 22 — According to Decrypt, U.S. Senator Bill Hagerty recently stated that the GENIUS Act will boost demand for U.S. Treasuries and reinforce the dollar’s status as the world’s reserve currency. The bill has passed a key Senate vote and will establish a legal framework for stablecoin issuance, requiring stablecoin reserves to be fully backed 1:1 by cash or short-term U.S. Treasury securities.

Citibank forecasts that by 2030, stablecoin issuers could become the largest global holders of U.S. Treasuries, with holdings potentially reaching $1.2 trillion.