U.S. Treasury Secretary Bessant: The U.S. dollar will soon be on the blockchain, and the GENIUS Act will consolidate the dollar's position as a global reserve currency for generations to come

PANews reported on July 20 that U.S. Treasury Secretary Bessant said in an article on the X platform that blockchain technology will power the next generation of payments, and the US dollar is coming onchain. Thanks to Trump's leadership and Senator Bill Hagerty's important work in Congress, the GENIUS Act will help consolidate the dollar's position as the global reserve currency for future generations. In addition, U.S. Treasury Deputy Secretary Michael Faulkender also said that with the GENIUS Act providing legal clarity for stablecoins, the United States now has a faster, cheaper and safer way to trade, which has increased global acceptance and demand for digital payments backed by the dollar and strengthened the commitment to making the United States the world's crypto capital.