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Now that the United States has passed the GENIUS Act to regulate stablecoins—crypto tokens whose value is pegged to the dollar—what is their future? Will they become a widely used means of payment, bolster the global role of the dollar, and reach $2 trillion or more in capitalization soon as predicted by the U.S. Secretary of the Treasury? Heath Tarbert, president of Circle, the issuer of the largest stablecoin regulated in the United States (USDC), met with Timothy Massad, HKS Research Fellow and Director of the M-RCBG Digital Assets Policy Project, and HLS Prof. Howell Jackson on October 16, 2025 to discuss. Mr. Tarbert previously served as Assistant Secretary of the U.S. Treasury and Chairman of the Commodity Futures Trading Commission. Click here to learn more about the Digital Assets Policy Project: https://www.hks.harvard.edu/centers/m...