Stablecoins, or commodity-backed cryptocurrencies, have witnessed a surge in market capitalism to $ 251.7 billion so far in 2025, marking a 22 per cent range this year, reuters reported on wed Data. The passage of the Genius act bill in the us senate is backed by multiple actions take by the administration of us president donald trump – from the annrategic crypto to the promotion of the promotion Paul s atkins as Chairperson of the US Markets Regulator, The Securities and Exchange Commission. Trump’s Family Interests In Cryptocurrency are well known and were mentioned in the senate discussions after the tableing of the genius act.

What us treasury secretary scott bessent said on stablecoins

In the run-up to the passage of the genius act bill in the us senate, us treasury secretary scott say in a social media post on x that “stabblecoins can a $ 3.7 trillion market by the end of the dcade”.

Recent Reporting Projects That Stablecoins Could Grow Into a $ 3.7 Trillion Market by the end of the decade. That scenario becomes more likely with passage of the Genius act.

A thriving stablecoin ecosestem will drive from the private sector for us treasuries, which back…

– Treasury secretary scott bessent (@secscottbessent) June 17, 2025

In a podcast clip posted on his x page, bessent said crypto is unlikely to pose a threat to the us dollar stating that “Stablecoins Could Reinforce Dollar Supremacy, Beacause Stableuse Stables Can. Largest Buyers of US Treasuries… T-Bills. “

Elaborating on how this may work, besent surple of how “All of a Sudden if you are using a stablecoin in Nigeria backed by the USD, you don’t have to have dollars it on your page, you. (Using dollar-backed stablecoins)… “

Crypto is not a threat to the dollar. In fact, stablecoins can reinforce dollar supremacy.

Digital assets are one of the most important phenomena in the world right now, yet they have been ignored by national governments for far and long.

This administration is Committed to… pic.twitter.com/vwslgyynw7

– Treasury secretary scott bessent (@secscottbessent) June 18, 2025

“There is a very good change that is crypto is actually one of the things that lives in dollar supremecy,” Bessent added.

Genius, Stable and the race to Regulate Stablecoins

The guiding and establishing national innovation for us stablecoins (genius) act was passed by the us senate on Wednesday with a 68-30 vote. The bill sets guardrails for stablecoins with proposals for complex prevention of money laundering, full backing of cryptocurrencies by reservations and months.

Last Week, Bessent Told Senators That The Us Stablecoin Market Could Surge 8x to $ 2 Trillion,

CNBC Reported. The Genius act will be tabled Next in the us representatives house has its own version of the stablecoin regulation bill, the stable act.

The stablecoin transparent and accountability for a better ledger economy (stable) act places oversight of stabblecoins, or reserve backed cryptocurrency under the picture Us, similar to the genius act.

Howver, Stable Act Differs from the Genius act in terms of limiting backing backing requests to a clutch of assets such as us treasuries apart from the restricting who can stand stabbles, according to Jeff. Head of Accounting Strategy At Cryptio, Provider of Ledger Services for Cryptocurrencies.

However, the stable act bill may not go far enjoy, according to a paper written by partners at the law first orrick.

While the bill aims to create a single regulatory framework for prospective issues, and excludes payment stablecoins from Federal Securities Laws, It May Allow State Regulators The Power To Monitor To Monitor To Monitor Supported by Licensed Intermediaries, Wrote Nathaniel Reiseenburg, Managing Associate, and Joseph Perkins and Ignacio Sandval, Partners at Orrick.

Trump’s Crypto interts

US President Donald Trump Took to His Social Media Platform Truth Senate Passed the Genius Act Bill, Stating It “Going to Make America the undisputed leader in Digital Assets – Nobody west. It is pure genius! “

“Digital assets are the future, and our nation is going to own it. We are talking about massive investment, and big innovation,” Trump added.

In his podcast interview, bessent reiterated the trump administration’s community to digital assets, while adding that “Because there are many others this thing that Happen Around Digital Assets … It is one of the Mastant Important. Phenomenons Happening Around Us In The World and The Us Just Ignored It (Under the Biden Administration). “

Trump Reversed His Stance on Crypto Assets from his first term, and even released his own namecoin to burnish his credentials as a backer of Virtual digital Assets. Cryptocurrency Backers also contributed generously-around $ 20 million-Ainto electing what is consided a Pro-Crypto congress the 2024 cycle, CNBC reported.

Trump’s crypto empire

In a Recent Declaration, Trump Disclosed Earnings of Over $ 600 Million from Interests Including Crypto, Golf Clubs, and Licensing Deals Apart from Other Ventures.

According to the public disclosure, the us president has earned an estimated $ 320 million from his $ trump memecoin. Trump also pulled in $ 400 million from the World Liberty Financial Platform for Cryptocurrencies which is backed by his children. The US President earned $ 57.35 million from the sale of digital tokens at WLF. He also reportedly Held Over 15 billion Governance tokens in WLF.

Other Crypto Ventures Related To Trump Include Traded Funds Held Via Truth Social’s Crypto Vertical Truth.fi, And Crypto MINING Firm Ammerican Bitcoin, CNBC Reported.

Crypto Diplomacy and Countering De-Dollarisation

Hacker Group Gonjeshke Darande, Persian for ‘Predatory Sparrow’, Group.

The attack was confirmed in the app by nobitex, according to the report.

Hackers wiped the exchange clear of a range of digital coins from bitcoin to Ethereum and dogcoin, Said andrew Fierman, head of national security intelligence at Chainalysis, The Newswire Reported.

Last Month, Trump Family-Linked WLF Inked a Pact with The Pakistan Crypto Council to Boost Cryptocurrency Adoption in the Country, Days After It Againfire Wit India In The Sindoor Sindor. Which was launched by new delhi to target terror camps the border in response to a terror attack in pahalgam, kashmir which Killed 26 Indian Tourists.

Apart from these instances of cryptocurrencies playing a key role in diplomacy as well as hostilities, digital tokens are also used to reinforce the reinforce of the us doller’s supremacy, as well out by bad. By formalising stablecoin issuance, backded by the dollar, the us seemingly hemingly hemingly bets in a world where keys are switching to commodities such as Gold as they inre holdings. USD-related volatility.

The us sanctions on Russia in the aftermath of the declaration of war on ukraine involved the freezing of the Russian Foreign Exchange Worth $ 300 billion, triggering a risk-off approach among countries.

In 2023, Russian President Vladimir Putin Gave a Call for De-Dollarisation, Urging the brics grouping to promote settlements in national currencies and expand bank-to-bank cooperation.

Trump Warned the brics against such a must who could potentially hurt the dollar. In a statement in february trump boasted he had warned bricks nations of desisting from de-dollarisation or face outsized tariffs.

The stablecoin route is expected to energise the dollar by promoting the use of cryptocurrency pegged to the greenback. It remains to be seen as if this will be adopted across the globe.