US Vice President JD Vance is the first person in this position to speak to the bitcoin community, affirming his support for crypto. Mr. Vance does not think that stablecoins threaten the USD. On the contrary, he believes that stablecoins are a lever for US economic strength.
Bo Hines, the White House official in charge of the President's Digital Asset Council, said on the sidelines of the conference that the US is simplifying its payments infrastructure to ensure the US dollar's global dominance for decades to come.
He added that integrating stablecoins into the US financial system could open up global demand for trillions of dollars worth of US government bonds.
However, this ambition depends on the passage of the GENIUS Act, a bill in the Senate that aims to establish the first comprehensive regulatory framework for stablecoin issuers.
Republican Senator Cynthia Lummis announced at Bitcoin 2025 that the bill will be brought up for a final vote next Monday, after weeks of negotiations with Democrats. If passed, Ms. Lummis said, it would be the first digital asset bill to be approved by the US Senate.
Dave Ripley, CEO of Kraken, who is advising lawmakers, said the bill is key to bringing financial institutions into the digital asset ecosystem.
However, some key terms are still being discussed, including whether yields from stablecoins can be shared with users.
Robinhood CEO Vlad Tenev believes the SEC can make it happen on its own without Congress passing new legislation.
The Bitcoin 2025 event clearly shows the interest of US policymakers in the potential of stablecoins and the effort to establish a legal framework to integrate them into the financial system, thereby strengthening the role of the USD.
Source: https://baonghean.vn/stablecoin-chiem-song-bitcoin-2025-va-tac-dong-toi-usd-ra-sao-10298720.html
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