Analysis: Stablecoins may become a new tool for US Treasury Secretary Vicente to make up for the deficit

Odaily Planet Daily News: After the GENIUS bill is passed in the US Senate this week, stablecoins may become an important source of funding for the US government, and even a new tool for US Treasury Secretary Bessent to make up for the country's deficit. Besson hereby expressed his appreciation for the GENIUS Act and said that a regulated and developing stable currency market could create new buyers for US government debt and promote the private sector's demand for US treasury bond bonds. Besson previously told the US House Financial Services Committee in May that some speculate that the demand for US government securities in the stablecoin market may reach $2 trillion in the coming years. However, analysis suggests that the stablecoin industry is unlikely to completely solve the US government's debt financing problem and may bring additional risks, as the additional demand for stablecoins takes time to develop, and the US Treasury Department has to issue a large number of debt securities within a year. If problems arise that prevent the Federal Reserve from cutting interest rates, the US deficit will spiral out of control. （CNBC）