The GENIUS Act focuses on the importance of stablecoins, digital assets pegged to the U.S. dollar, to modernize money transactions in the digital age.
Bo Hines, Executive Director of the President’s Council of Advisers for Digital Assets, believes stablecoins strengthen U.S. dollar dominance, improve payment systems, and offer faster, cheaper, and transparent ways to transfer money.
By adopting stablecoin technology, the U.S. can enhance its financial infrastructure, lower transaction costs, and enhance accessibility for users, positioning the country as a leader in the next generation of finance.
Hines envisions digital asset technology as the future of finance, suggesting that the U.S. is prepared to take the lead in this evolving financial landscape.