"US Leadership's Plan to Globally Penetrate the Dollar through Stablecoin"
The digital asset bank group Signum pointed out through a report released on the 10th that the US government is aiming to extend dollar hegemony through stablecoins.Signum emphasized that the US government will use stablecoins as a tool to reverse the weakening status of the US dollar as the world's key currency.
Signum stated, "The demand for US dollar-linked stablecoins in retail transactions in developing countries with extremely declining currency values is surging" and "The US administration is expected to reverse the currently weakened US dollar status in response to this demand".
Signum pointed out that the US leadership's support for the US stablecoin regulation bill 'GENIUS Act' is part of a broader picture to develop stablecoins.
In fact, President Donald Trump said about the Senate's passage of the GENIUS Act last month, "The Senate has passed an amazing bill that can make the US the leader in the cryptocurrency market" and "The GENIUS Act is literally a genius bill that can attract large investments and innovation to the United States". He further emphasized, "I hope the House will pass this bill at the speed of light and bring it to my desk".
Reporter Seung-won Kwon ksw@blockstreet.co.kr