Scott Bessent Backs T-Bill-Backed Stablecoins as U.S. Moves Closer to Stablecoin Regulation

From financefeeds.com

Treasury Secretary Scott Bessent has publicly endorsed new stablecoin legislation that would mandate stablecoins be fully backed by highly liquid assets, including U.S. dollars and short-term Treasury bills (T-bills). As Congress advances toward a potential final vote on stablecoin regulations, Bessent’s support signals growing momentum for formal oversight of the sector and a significant step toward integrating digital assets into the broader financial system. Speaking before lawmakers in recent hearings, Bessent emphasized that structured regulation could not only bring stability to the burgeoning digital asset ... (full story)