PANews June 6 news, CITIC Securities research report pointed out that recent stablecoin legislation in the United States and several other countries has made progress. The report believes that the Trump administration has three purposes 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 will create medium- to 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.