U.S. Treasury Secretary Becerra: The market capitalization of stablecoins will exceed $2 trillion, the GENIUS Act leads a new era.

U.S. Treasury Secretary optimistic about stablecoins breaking $2 trillion in 4 years, "GENIUS Act" promotes 100% reserve system, banks and Wall Street synchronous layout (Synopsis: Microstrategy Michael Saylor: Apple should invest in BTC, more incentive stock price than buying back Apple shares) (Background supplement: Micro strategy chokes "Bitcoin quantum attack", Michael Saylor: unfounded worry, if it comes true, Google and Microsoft will fall first) U.S. Treasury Secretary Scott Bessent threw out a new forecast at the Senate Appropriations Committee hearing on the 12th: the market value of stablecoins is expected to rush to $2 trillion by the end of 2028, and may even "significantly exceed" this figure. At this time, the US Congress is rapidly advancing the GENIUS Act legislation, which sets 100% reserves and mandatory audit requirements for stablecoins. In addition, Bessent has recently been rumored by Wahl to be expected to take over the Federal Reserve and become one of Bauer's successors, so his recent speech has attracted much attention. In response to media and Wall Street speculation, Trump responded in an interview with the media that "he is a highly regarded person." Treasury Secretary Optimistic Forecast, Dollar Status Plus According to Bloomberg terminal data, the total market capitalization of dollar stablecoins is currently about $250 billion, accounting for 96% of global stablecoins. According to Besent's forecast, the market will need to grow nearly eightfold in the next four years, Bessent told senators: "I think the $2 trillion forecast is very reasonable, and there may be more." With the right regulatory framework, the US dollar stablecoin will spread to all corners of the globe and further strengthen the US dollar's position as the global reserve currency." On the same day, the Senate procedurally voted to advance the GENIUS Act (Stablecoin Innovation and Financial Stability Act). Highlights of the terms include the Trump administration's stated desire to have the bill signed into effect by August: • Issuers must fully reserve in U.S. dollars or equivalent short-term Treasuries, ensuring that 1 stablecoin corresponds to $1 in assets. • Those with a market capitalization of more than $50 billion are subject to annual audits. • Foreign issuers are subject to the same standards if they reach U.S. users. JP Morgan analysis report predicts that stablecoin issuers may become the third largest buyer of short-term US Treasuries in the future; Standard Chartered is bullish on a market size of $2 trillion by 2028; CITI also expects issuer debt holdings to exceed $1 trillion in 2030. In 2024, the trading volume of on-chain stablecoins has reached $27.6 trillion, and if the regulation is implemented, the demand is expected to climb again. Players are equally active. Bank of America publicly announced its entry into stablecoin business; Leading publisher Circle's share price soared 235% on the first day of its IPO this month, and its market value briefly exceeded $17 billion, indicating that the capital market has high expectations for the business. The bill still faces more than 120 amendments, focusing on money laundering prevention, conflicts of interest and bankruptcy protection. Senator Elizabeth Warren criticized the draft as "overly biased" and threatens to leave financial stability and national security concerns. At the same time, the pace of overseas regulation has accelerated. The European Union has implemented the MiCA regulation, and many Asian countries have also published the draft. If the US can complete legislation by August, the US dollar stablecoin is expected to gain a global scale advantage. Bessent's $2 trillion outlook may just be the starting point for the expansion of the digital dollar's influence. Related reports MicroStrategy Michael Saylor speech "21 Ways to Get Rich with Bitcoin": Clarity, faith, courage, everything is rooted in BTC software can not be sold, rely on Bitcoin to become a god! Decoding Microstrategy Strategy and Michael Saylor's Financial Magic Michael Saylor: 55 million people around the world indirectly "hold microstrategies to support BTC", and then hint at buying Bitcoin (US Secretary of the Treasury Bessen: Stablecoin market value will exceed $2 trillion, GENIUS Act leads a new era) This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".