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U.S. Act Aims to Strengthen Dollar's Dominance Amid Global ...
2025-07-10 22:55:10
Finance
Government

U.S. Act Aims to Strengthen Dollar's Dominance Amid Global Resistance

The U.S. government is increasingly focusing on dollar-pegged stablecoins as a means to maintain the dollar's dominance as a global reserve currency. The recently passed GENIUS Act introduces a regulatory framework aimed at stabilizing the market for these cryptocurrencies.

By requiring issuers to hold one-to-one reserves in cash or short-term securities, the legislation aims to boost consumer confidence and institutional investment in digital assets. However, resistance is growing internationally, as countries seek alternatives to the U.S. dollar.

The act is seen as a strategic response to fiscal pressures and aims to facilitate banks in issuing stablecoins, potentially transforming the financial landscape. While the regulation may enhance efficiency in transactions, it also raises concerns about increased fraud risks as stablecoins become more integrated into everyday commerce.

Related news on that topic:

US Lawmakers Propose New Framework for Crypto Taxation and ... Regulations

US lawmakers are gearing up for discussions on a comprehensive crypto tax policy as they aim to advance three significant bills. Central to these discussions is the need for a structured framework addressing taxation for digital assets. Republicans are exploring various legislative routes to tackle issues like double taxation for cryptocurrency miners and stakers. A pivotal 'crypto week' in the House will delve into topics such as payment stablecoins and the structure of the crypto market. Additionally, the potential exemption of small crypto transactions from taxes is under consideration, which could stimulate participation in the market. Amid these developments, the European Securities and Markets Authority is scrutinizing Malta's licensing, while notable incidents in the crypto space, like GMX's trading pause, highlight ongoing challenges.

The press radar on this topic:

Cointelegraph.com News
10. Juli 2025 um 15:38

US sees stablecoins as key to preserving the dollar’s reserve status — Sygnum

The US government views dollar-pegged stablecoins as a tool to preserve the dollar's status as a global reserve currency. The Trump administration is pushing for the GENIUS Act, which would regulate stablecoins in the US. However, there is growing resistance to US dollar stablecoins globally, with countries like Italy and the BRICS bloc seeking to reduce reliance on the US dollar. The US believes stablecoins can serve the demand for US dollars in developing countries facing inflation and curre..
The Street
10. Juli 2025 um 17:13

Billionaire analyst breaks down why the GENIUS Act is indeed genius

Crypto analyst Arthur Hayes explains why the U.S. government is interested in stablecoins, which are cryptocurrencies pegged to the U.S. dollar. The government faces fiscal pressure due to growing deficits and debt, and is looking for ways to finance itself without substantially raising interest rates. The proposed GENIUS Act aims to create a regulatory framework for stablecoin issuers, which Hayes believes will enable U.S. banks to issue stablecoins at scale. Banks could then convert customer..
The Street
11. Juli 2025 um 19:20

Wall Street’s calling it the most 'genius' piece of regulation since Dodd-Frank

The US Senate passed the GENIUS Act with a 68-30 vote, marking the first major digital asset regulation. The legislation establishes guidelines for stablecoin issuance, requiring issuers to hold one-to-one reserves in cash or short-term Treasury securities. The bill provides protections to consumers and prohibits government officials from launching tokens while in office. The regulation is being celebrated as a major win for the crypto industry, with experts predicting increased institutional..
The Street
15. Juli 2025 um 02:48

Former Apple exec has one word response to new regulation

Ian Rogers, chief experience officer at Ledger, welcomed the Senate's passage of the GENIUS Act, which aims to provide clear stablecoin regulation. He sees stablecoins as 'really low hanging fruit' given their widespread adoption and potential for cost-effective transactions. Rogers predicts that non-crypto companies will rebuild their backends on crypto rails due to their efficiency and speed. However, he also warned of the increased risk of fraud and theft with the rise of everyday spending..
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