Odaily Planet Daily News: The GENIUS Act was passed this week in the U.S. Senate, and stablecoins may become an important source of funding for the U.S. government, potentially serving as a new tool for Treasury Secretary Basant to address the country's deficit. Basant previously praised the GENIUS Act, stating that a regulated and evolving stablecoin market could create new buyers for U.S. government debt, boosting private sector demand for U.S. Treasuries. In May, Basant indicated to the U.S. House Financial Services Committee that some speculate the stablecoin market's demand for U.S. government securities could reach as high as $2 trillion in the coming years. However, analysts believe that the stablecoin industry is unlikely to fully resolve the U.S. government's debt financing issues and could introduce additional risks, as the extra demand for stablecoins will take time to develop, while the U.S. Treasury needs to issue a significant amount of debt securities within a year. If problems arise that prevent the Federal Reserve from lowering interest rates, the U.S. deficit could spiral out of control. (CNBC)