U.S. Treasury Secretary Bessent: The U.S. dollar is coming onchain, the GENIUS Act will solidify the dollar's position as the global reserve currency for generations to come

PANews July 20 news, U.S. Treasury Secretary Bessent stated on the X platform that blockchain technology will power the next generation of payments, and the U.S. dollar is coming onchain, thanks to Trump's leadership and Senator Bill Hagerty's important work in Congress, the GENIUS Act will help solidify the dollar's position as the global reserve currency for generations to come. In addition, U.S. Deputy Treasury Secretary Michael Faulkender also stated that with the GENIUS Act providing legal clarity for stablecoins, the U.S. now has faster, cheaper, and safer transaction methods, which enhance global acceptance and demand for digital payments supporting the dollar and strengthen the commitment to making the U.S. a global crypto hub.