CCTV News: The Credibility of the US Dollar and International Responsibility Will Affect Global Acceptance, Mere Changes in Form Are Not Enough to Consolidate the Influence of the Dollar and Stablecoins

Foresight News reports that Trump has officially signed the GENIUS Act at the White House, marking the first time the United States has established a regulatory framework for stablecoins.

Experts point out that the U.S. is actively promoting stablecoins in an effort to leverage the existing advantages of the dollar and maintain its dominance in the global currency and payment systems. Some believe this move could help ease pressure on U.S. Treasury bonds. However, some Democratic lawmakers question whether the act provides sufficient consumer and financial stability protections, and have noted connections between the Trump family and cryptocurrencies. Some Republican lawmakers also argue that the act conflicts with Trump’s previous executive order banning central bank digital currencies.