According to a new report by the Digital Asset Banking Group Signum, the United Dollar looks as a tool to help the dollar-paved stabcoin as a global reserve currency to help in reverse the decline of the dollar position. To accelerate that goal, the current administration is encouraging the development of Stabechoin market and urging the Congress to pass a law.
The insight comes from the latest of signum Report To investigate the dollar standing as a reserved currency and the US government’s efforts to preserve efforts.
US President Donald Trump and a key members of his administration, including Treasury Secretaries Scott Besant and AI and David Sachs, Trump’s “Crypto and AI Caesar”, who lead the President council Among the advisors of science and technology, the Genius is insisting on the fast passing of the Act, which controls Stabelin and their issuers in the United States. The Act passed the Senate on 17 June and is currently in the House of Representatives.
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Global Alternative US Dollar Stabelcoin emerges
While the US government is pushing the dollar-paved stabechoin, resistance is increasing worldwide. On 16 April, the Italian Finance Minister warned that the US dollars pose a higher risk than Stabecrims Tariff and should not be judged by reducing the appeal of these Stabecrims.
DEA Markwa, head of the Fireblock policy, told Cointelgraph that despite the limited liquidity for these coins, Stabecoin does not have a growing demand to US dollars. Signum is Participation For an instantaneous settlement network with fireblock that contains stabechoin transactions.
Three major institutions in Abu Dhabi have formed a team to launch a Dirham-Paigd Stabecin, pending with the United Arab Emirates regulators.
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US dollar demand is coming from developing countries
The signum report cites the demand for US dollars coming from retail in developing countries, which encounter rising inflation and reduces local currency.
The report said, “The US administration believes that the dollar sect Stabecoin can meet this demand and reverse the status of the dollar aeroding reserved currency,” the report states.
Catalin Tishose, the head of research at signum, told Cointeletagraph, “Dollar Stabecrim in the Crypto industry can help strengthen dollar monetary dominance if the blockchain-based, decentralized economy is greatly expanded.” He said:
“However, I am not sure that there is a compelling case for stabechoin, which moves the needle to the dollar beyond the dollar, unless retail usage is intensified in developing countries behind the incentive.”
In addition, resistance can come from the BRICS, which is a block of 10 countries, seeking to reduce the dependence on US dollar. According to Signum, the group is advancing a multi -polar financial system that advocates using several fiat currencies for cross -border trade and disposal rather than a single global reserved currency.
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