This statement is actually quite direct, meaning that the United States is finally ready to put the dollar 'on the chain', not just watching others play with stablecoins on the chain, but also wanting to create a 'chain-based dollar' themselves.

Bessent said the 'GENIUS Act' will help strengthen the dollar's status as the global reserve currency, simply put: 'Our American dollar needs to continue to be the leader through blockchain technology.'

They not only want to maintain the global dominance of the dollar but also bring this dominance into the new realm of digital currency and blockchain. So we might soon see the U.S. directly promoting the dollar stablecoin on the chain, no longer letting USDT and USDC, these 'private dollars', take the spotlight.