According to a report by Deep Tide TechFlow, on May 22, U.S. Senator Bill Hagerty stated that the GENIUS Act will enhance demand for U.S. Treasury bonds and solidify the dollar's status as the global reserve currency. The bill has passed a key Senate vote and will provide a legal framework for stablecoin issuance, requiring that stablecoin reserves must be backed 1:1 by cash or short-term U.S. Treasury bonds.
According to Citibank's forecast, by 2030, stablecoin issuers could become the largest holders of U.S. Treasury bonds globally, with holdings potentially reaching $1.2 trillion.