According to BlockBeats, on June 6, a research report from CITIC Securities pointed out that stablecoin legislation in the United States and several other countries has made phased progress. The report suggests that the Trump administration has three objectives 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. Treasury bonds; 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 is likely to create long-term benefits for the upward trend of cryptocurrencies. However, the accelerated upward movement of cryptocurrencies may need to wait for certainty in Trump's policies.