US Treasury Secretary “Declaration of full-scale war on digital assets…Stablecoin demand projected to reach up to 2 trillion dollars”

Scott Besant, The Us Treasury Secretary With A Clear Commitment To Promoting The Cryptocurrency Industry (Source: Politico)

The Us Treasury Secretary, Scott Besant, Has Formalized A Full Support Policy For The Digital Asset Market. According To U.today On The 23rd (Local Time), Secretary Besant Stated, “The United States, The World's Largest Economy, Is Now Going 'Go Big' In The Digital Asset Sector” And Announced A Position To Simultaneously Promote Market Growth And Strengthen Regulations.

He Particularly Presented Stablecoin As A Key Tool In The Future Us Economic Strategy. While Applying The Highest Anti-money Laundering (Aml) Standards In The Us To Stablecoins, He Envisioned That It Could Induce Demand Of Up To 2 Trillion Dollars (Approximately 2736 Trillion Won) For Short-term Treasury Bills (T-bills) And Us Treasuries. The Current Stablecoin Market Is About 300 Billion Dollars (Approximately 410 Trillion Won), Indicating Room For Expansion Several Times Over.

Secretary Besant Emphasized That “Under The Previous Administration, The Digital Asset Industry Nearly Dried Up, And Some Were Even On The Brink Of Extinction”, Stating That The New Administration Will Seek To Promote Both Growth And Regulation Simultaneously. This Is Understood As Intending To Keep Stablecoins Within The Regulatory Framework While Also Nurturing Them As Strategic Assets Within The Us Financial System.

Indeed, It Is Expected That The Us Senate Will Soon Pass Key Legislation On Stablecoins. The Legislation Requires Issuers To Obtain A Federal License And Mandates The Holding Of 100% Reserves As Well As Anti-money Laundering Measures. The Industry Sees This As A Signal Of Inclusion Into The Mainstream Regulatory Framework, And The Possibility Of Large Financial Institutions Entering The Market Is Also Being Raised.

Reports Have Emerged That Traditional Financial Institutions Like Fidelity And Jpmorgan Are Already Exploring Ventures Into The Stablecoin Business, And Tether's Ceo Paolo Ardoino Has Stated That “Usdt Contributes To Strengthening The Global Status Of The Us Dollar.”

Meanwhile, Secretary Besant Left Room For A Digital Asset Retention Strategy, Stating That Aside From Bitcoin Seized By The Us Government In The Past, “Additional Routes To Acquire Bitcoin May Be Found.” As The Us Government’s Approach To Digital Assets Has Clearly Shifted To A Direction Of ‘Concurrent Regulation And Promotion’, It Is Expected To Have A Significant Impact On The Global Cryptocurrency Market.