U.S. Dollar Comes Onchain as GENIUS Act Ushers in Digital Era

In a statement that marks a major policy shift, U.S. Treasury Secretary Scott Bessent confirmed that blockchain technologies will play a central role in the future of American payments, with the U.S. dollar officially moving "onchain."

Bessent praised President Trump’s “visionary leadership” and acknowledged Senator Bill Hagerty’s legislative work in securing the GENIUS Act’s passage through Congress. According to the Treasury chief, this new law will help cement the U.S. dollar’s role as the global reserve currency for the foreseeable future.

“The U.S. dollar is coming onchain,” Bessent posted on social media, emphasizing that blockchain is set to power the next generation of financial infrastructure.

The GENIUS Act, which aligns federal policy with crypto innovation, appears to be a key part of the Trump administration’s broader effort to ensure American dominance in the emerging digital currency era.

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While specifics of the onchain dollar implementation remain under wraps, the announcement signals an accelerated push by Washington to digitize national currency, potentially through a U.S.-backed stablecoin or blockchain-integrated payment rails. Bessent’s endorsement underscores how blockchain has moved from fringe to foundational in U.S. monetary strategy.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.