CMC News

Dollar #Stablecoins Emerge as Tool To Preserve U.S. Reserve Currency Status

The U.S. administration views dollar-pegged #stablecoins as crucial for reversing the dollar's declining global reserve status.

President #Trump and Treasury Secretary Scott Bessent are pushing for swift passage of the GENIUS Act.

The legislation would regulate stablecoins and their issuers across the United States.

Growing resistance to U.S. dollar stablecoins is emerging worldwide from various nations.

Three major Abu Dhabi entities plan to launch a #dirham-pegged stablecoin pending UAE regulatory approval.

Demand for U.S. dollars comes primarily from retail users in developing countries facing inflation.

BRICS nations are advancing a multipolar financial system favoring multiple fiat currencies over single reserve currency dominance.

The blockchain-based decentralized economy expansion could reinforce dollar monetary dominance through #stablecoin adoption.