Trump's crypto czar, David Sacks, has argued that stablecoins could help maintain US dollar dominance, just as lawmakers push for clearer regulations in the sector. His statement came after Senator Bill Hagerty introduced the GENIUS Act, a bill aimed at setting legal standards for stablecoins and ensuring their reserves are backed mainly by US Treasury Bills.

At a press conference alongside key Republican lawmakers, Sacks outlined Trump's digital asset strategy, suggesting that stablecoin regulation could be a priority under the administration. He also addressed questions about Trump's plan for a Bitcoin reserve, stating that assessing its feasibility is a key goal for the crypto council, though he declined to confirm whether the US government would actively accumulate BTC.

Meanwhile, Congress appears to be accelerating efforts to formalise crypto policy, with key committees forming dedicated groups to oversee digital asset regulations. Lawmakers, including Senate Banking Committee Chair Tim Scott and House Financial Services Committee Chair French Hill, have signalled a coordinated push to establish a comprehensive framework for stablecoins and broader crypto adoption.