According to BlockBeats, on June 6, a research report from CITIC Securities 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 goals in 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. Treasuries; and to strengthen the binding relationship between stablecoins and the U.S. dollar, delaying the process of de-dollarization.
Therefore, the formalization process of stablecoins is expected to continue. The expansion and development of the stablecoin market will be a long-term benefit for the upward trend of cryptocurrencies. However, an accelerated upward trend in cryptocurrencies may need to wait for the certainty of Trump's policies.