Stablecoins can secure U.S. dollar dominance: Trump’s crypto czar

David Sacks, Trump’s Tsar Crypto, said stablecoins could potentially strengthen the domination of the US dollar just hours after Senator Hagerty proposed the genius law.

White House Ai and Crypto Tsar David Sacks hosted a press conference alongside other GOP officials for outline President Donald Trump’s vision for the landscape of digital assets in America.

Sacks said that stablescoins, fiat-fiat-hole dollars operating on blockchains, could help strengthen the world domination of the US dollar. Discussions on the policies on the issue suggest that new regulations can force the market participants to have reserves almost exclusively in the invoices of the US Treasury.

Developments on February 4 indicate that Congress can prioritize the regulations of Stablescoin as part of the Trump administration. Indeed, Senator Bill Hagerty presented The engineering acts to clarify the rules and establish standards for a critical sector of cryptographic transactions.

Answering a question about Trump’s bitcoin (BTC) Reserve promises, Sacks said that exploring the “feasibility of a BTC strategic reserve” was an absolute priority for cryptographic council. The United States is currently the largest sovereign holder in the BTC, with around 207,000 BTC, mainly acquired by criminal crises.

A proposal from senator Cynthia Lummis enlarge This storage and modifies the laws to allow the Treasury Department to hold BTC.

The bags, however, refused to comment whether an American sovereign fund would accumulate cryptocurrencies. “You will have to ask the trade secretary who will soon be Howard Lunick on this subject,” replied Sacks.

Start of stablecoins in the Senate, key committees of wider policy

Tim Scott, the president of the Senate committee, the chairman of the commission of agriculture house, was also present at the press conference with bags, the president of the Chamber of Financial Services Committee, the president of the committee of the Agriculture of the Senate, John Boozman, and the president of the Agriculture Committee of the GT Thompson Chamber.

Representative Hill confirmed that the two Congress Chambers planned to accelerate and coordinate the development of cryptographic policies through joint working groups. During the conference, the four Pro-Crypto legislators announced that, for the first time, their committees had established dedicated subcomitities focused on digital assets.