Scott Bessent is convinced that people around the world will choose Stablecoins than CBDC (Central Bank Digital Currencies).
In a new interview with Bloomberg, Bessent creates a “interesting new payrail” in the Stablecoin division.
“Importantly, it will be the source of demand for the US financial market. We will have personal stability supported by the US Treasury with our best practices and regulations in terms of preferred in terms of global preferences.”
BESSENT encourages Congress members to pass the genius of the Senate version, and I think this bill can pass the house by mid -July.
Potential legislation must be a 1: 1 ratio for the STABLECOIN issuer.
The bill also states that the STABLECOIN issuer protection area can be composed of US currency. Funds held by insurance depositors as demand deposits or insurance stocks; Treasury bill, notes or bonds.
The Senate passed the bill last month.
https://www.youtube.com/watch?v=wu0axxujrzg
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