The White House Commends <i>GENIUS Act</i> Passage: Paving the Way for the U.S. to Lead the Global Digital Currency Revolution

By: theblockbeats.news|2025/07/20 09:52:06

BlockBeats News, July 20th, the White House issued a statement praising the passage of the "GENIUS Act," referring to it as a landmark piece of legislation that will pave the way for the United States to lead the global digital currency revolution. President Trump stated that the act "has created a clear and concise regulatory framework to establish and unleash the immense potential of a USD-backed stablecoin. This may be the greatest revolution in the fintech sector since the birth of the internet."

Bo Hines, Executive Director of the President's Digital Asset Advisory Committee, stated: "We are ensuring the dominance of the US dollar, fostering innovation, and ensuring that the United States permanently controls the future of digital finance."

White House Cryptocurrency Czar David Sacks said: "Today, we have achieved another historic legislative milestone, which is a significant step in President Trump's commitment to making the United States the capital of the world's cryptocurrency."

Treasury Secretary Scott Bessent said: "Blockchain technology will drive the next generation of payments, and the US dollar is about to go on-chain. Thanks to President Trump's visionary leadership. The GENIUS Act will help solidify the dollar's position as the global reserve currency for generations to come."

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