Crypto Czar David Sacks: The GENIUS Act, a stable currency regulation act, will release "trillions of dollars" of demand for US treasury bond bonds

According to CNBC, David Sacks, crypto adviser to President Trump of the United States, said that if the GENIUS Act was passed, it would release "trillions of dollars" of demand for US treasury bond bonds. The bill has broken through the obstruction threshold in the Senate procedural vote. Sacks stated that the bill will provide a legal framework for the $200 billion unregulated stablecoin market and strengthen the dominance of the US dollar. Despite full support from the White House, Democrats still question whether the bill poses a conflict of interest for the president and his family.