David Sacks stated that the stablecoin bill (GENIOUS Act) is currently receiving strong bipartisan support in the U.S. Congress 🇺🇸. Specifically, at least 15 Democratic Senators have voted in favor of passing the cloture threshold, effectively ending debate and eliminating the possibility of delays. He believes that with such consensus, the bill is almost certain to pass.

The primary reason for his confidence in the bill’s passage is the practical benefits stablecoins offer. Stablecoins create a new payment system for the U.S.: faster, cheaper, and more efficient. Beyond optimizing payment infrastructure, they also play a role in reinforcing the global dominance of the U.S. dollar in the digital environment.