David Sacks: The stablecoin bill will unlock trillions of dollars for the US Treasury Department

On May 22nd, according to market reports, David Sacks, the White House head of cryptocurrency and artificial intelligence and the "crypto czar," stated that the stablecoin bill will unlock trillions of dollars for the US Treasury Department. Yesterday, it was reported that the US Senate voted to pass the "closure motion" for the formal review of the GENIUS stablecoin bill. At least 15 Democratic lawmakers changed their stance and voted in favor, including Cortez Masto, Adam Schiff, Mark Warner, and others. The bill will now enter the comprehensive review process, and only the motion to terminate the debate has been passed. The bill itself has not yet been passed. The GENIUS Act will now enter the debate and amendment stage in the Senate.