Bo Hines, executive director of the Council on Advisors on Digital Assets, predicts the digital asset industry will see a surge in value between $15 and $20 following the legalization of the genius law.
In a recent interview, the executive director of President Trump’s Advisor Council on Digital Assets highlighted the importance of the White House Stubcoin bill and its impact on the crypto market. He believes that once Stablecoin Bill passes, the US crypto industry will benefit from the aftermath.
“The capital injections entering digital assets ecosystems and stables are huge. I think you’re looking for an industry that goes from $15 trillion ($1 trillion) to $20 trillion,” Hines said.
At the time of pressing, the entire crypto market is sluggish. Coingecko’s data shows crypto’s market capitalization fell 4.3% to around $3.4 trillion. If Bo Hines’ forecasts come true, US Stablecoin Bill could boost the crypto market by more than five times its current market capitalization.
Crypto regulations being handled by the White House, including the Stablecoin bill awaiting a vote from the House, put the United States at the forefront of adoption of digital asset finance technology, according to Hines.
read more: The US Senate passes the Landmark Genius Act and aims to clarify the stubcoin regulations
He explained that the Stablecoin bill would strengthen the retention of Stablecoins awarded in the US dollar, given the numerous innovations based on blockchains that rely heavily on the use of Stablecoins supported by the dollar.
“We’ve tokenized public securities 24/7. If you want to access the US capital markets, you’ll need to use a dollar-backed stable,” Bo Hines said.
“This is what the US positions to become a global leader and in reality we should drive this change,” he continued.
As a guideline and establishment of national innovation for the US Stablecoins Act, or more widely known as the genius law, it was recently lit by the US Senate by the environment, with a majority of 68-30 votes of bipartisan support. The bill is currently awaiting a vote from the House of Representatives and is poised to move forward by the end of July.
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