U.S. Treasury Secretary Bessant announced that the passage of the GENIUS Act is set to enhance the stablecoin market's prospects significantly. According to recent forecasts, the stablecoin market could expand to $3.7 trillion by the end of the next decade. The GENIUS Act is expected to bolster this growth by increasing private sector demand for U.S. Treasuries, which serve as the backing for stablecoins. This increased demand is anticipated to lower government borrowing costs and aid in managing the national debt. Additionally, the act could attract millions of new users to the dollar-based digital asset economy globally, presenting a mutually beneficial scenario for all stakeholders involved.