Part 5/7:
An important piece of legislation known as the "Genius Act" aims to legitimize stablecoins within the financial system. Hagerty discussed the implications of this act, believing it would modernize the financial and payment systems, as well as bolster America's position as a leader in financial innovation. He emphasized that by backing stablecoins with cash reserves or short-term government securities, a demand for U.S. Treasury bills could be ushered in, solidifying the country’s financial grounding.