【Stablecoin Legislation on the Horizon: A Direct Confrontation Between Wall Street and Crypto】
As the U.S. stablecoin regulatory bill becomes clearer, financial giants like PayPal, JPMorgan, and Citibank are leading the way into the stablecoin issuance and custody ecosystem. This is not a trial run, but a direct entry into the digital dollar arena—positioning themselves before the bill is enacted and building a closed loop from wallets to settlement.
This signifies a critical shift: stablecoins are no longer an 'intermediate product' in the Crypto world, but are being incorporated as a core strategic tool within the U.S. dollar financial system. The future digital dollar will likely be dominated by Wall Street.
What does this mean for the native Web3 world?
Increased regulatory thresholds, custody outsourcing, and on-chain dollar liquidity being absorbed by CeFi. If Crypto projects do not build compliance, stablecoin interfaces, and clearing and settlement capabilities early on, they risk losing their sovereignty and voice.
It's not about price fluctuations, but about a reconstruction of rules. The new battlefield is not on-chain, but in laws and licenses.
