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@RoundtableSpaceJUST IN: TREASURY SECRETARY BESSENT ANTICIPATES STABLECOIN LEGISLATION BY MID-JULY TO BOOST DEMAND FOR U.S. TREASURIES Source: @cointelegraph
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Bessent Targets July Stablecoin Law, Sees $2 Trillion Boost to Treasury Demand
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U.S. Treasury Secretary Bessent said stablecoin legislation could be finished by mid-July, and estimated the rules would channel as much as $2 trillion of stablecoin reserve assets into U.S. government securities. She argued the measure would create a steady new source of demand for Treasuries at a time when the government is expanding supply.
Bessent also cautioned that higher market yields may lift Washington’s near-term financing needs. She expects U.S. banks to absorb a larger share of forthcoming debt issuance and signaled the department will rely on increased Treasury-bill sales to replenish its cash balance.
Looking further ahead, the secretary projected that the federal debt burden will climb to well above 90% of gross domestic product by the end of President Donald Trump’s current term.
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