Trump adviser David Sacks says the GENIUS Act will pass the Senate with bipartisan support, potentially unlocking trillions in demand for US Treasurys.
Trump’s crypto czar David Sacks says stablecoin bill is ‘going to pass’
David Sacks, US President Donald Trump’s top adviser on crypto and artificial intelligence, said the administration expects the stablecoin bill to clear the Senate with bipartisan backing.
“We have every expectation now that it’s going to pass,” Sacks to, following a key procedural vote that saw 15 Democrats join Republicans to clear the filibuster threshold.
The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is the most advanced federal effort yet to establish a legal framework for dollar-pegged digital assets.
Sacks said the bill could trigger “trillions of dollars” in demand for US Treasurys by unlocking stablecoin growth under clear rules.
“We already have over $200 billion in stablecoins — it’s just unregulated,” he added. “If we provide legal clarity, we create enormous demand for Treasurys practically overnight.”