David Sachs, Trump’s Crypto Caesar, stated that Stabecrims could potentially strengthen the US dollar dominance, when the Senator Higrant proposed the Genius Act.
White House AI and Crypto Caesar David Sachs hosted A press conference with other GOP authorities to outline the vision of President Donald Trump for the US Digital Assets landscape.
Sachs said that Stabelin, Fiat-Paig Dollars running on blockchain, can help strengthen global US dollar dominance. Policy discussion on the matter shows that market participants may need market participants to keep almost special stores in American Treasury Bills for new rules.
The developments on 4 February indicate that the Congress may prioritize Stabechoin regulation under the Trump Administration. Indeed, the Senator Bill Hagranty introduced the Genius Act to clarify the rules and establish standards for an important area of crypto transactions.
Responding to a question on Trump’s Bitcoin (BTC) reserve promises, Sachs stated that searching for “a strategic BTC reserve viability” was the top priority for the Crypto Council. The US is currently the largest sovereign BTC holder, with about 207,000 BTCs – mostly acquired through criminal seizures.
A proposal of Senator Synthia Lumis will increase this stockpile and replace the laws to conduct BTC to the Treasury Department.
However, the sacks refused to comment on whether an American sovereign Nidhi would deposit Cryptocurrency. Sachs replied, “You will soon have to ask the Commerce Secretary Howard Lutnik.”
Stabelcoins debut in the Senate, major committees eye broad policy
The Senate Banking Committee Chairman Tim Scott was also present at the press conference with sacks, French Hill, Chairman of House Financial Services Committee, John Buzman, chairman of Senate Agricultural Committee and GT Thompson, Chairman of House Agriculture Committee.
Representative Hill confirmed that both the Congress chambers plan to accelerate and coordinate crypto policy development through joint work groups. During the conference, four supporters-crypto MPs announced that, for the first time, their committees had established a dedicated sub-committee focused on digital assets.
