According to BlockBeats, on June 6, CITIC Securities' research report pointed out that several countries, including the United States, have made phased progress in stablecoin legislation. The report believes that the Trump administration has three purposes for promoting cryptocurrency-related legislation: to help families accumulate wealth and fulfill campaign promises; to promote the expansion of the stablecoin market to alleviate the pressure of insufficient demand for U.S. Treasury bonds; and to strengthen the binding relationship between stablecoins and the U.S. dollar, delaying the process of dedollarization.
Therefore, the formalization process of stablecoins is expected to continue. The expansion and development of the stablecoin market are expected to provide long-term benefits for the upward trend of cryptocurrencies. However, the accelerated upward trend of cryptocurrencies may need to wait for the certainty of Trump’s policies.