🇺🇲💵 New U.S. stablecoin rules could cement the dollar's supremacy, BlackRock says
On July 18, 2025, President Trump signed the bipartisan Genius Act, creating the first major U.S. stablecoin regulatory framework. Today's commentary from BlackRock notes this could accelerate the rise of a tokenized dollar ecosystem, particularly for emerging markets, and further entrench the dollar's global influence.
Stablecoins-with current circulation near $250 billion (~7% of crypto market cap)-offer frictionless access to the dollar. Under the new regulations, issuers must maintain fully backed reserves, boosting transparency and trust. This regulatory clarity may unlock institutional adoption and expand dollar-based digital payments globally.
Analysts view the Genius Act as a watershed moment. U.S. Treasury demand may rise modestly as issuers hold more short-term Treasuries. Meanwhile, dollar-strength sentiment is rising, with institutions positioning stablecoin flows as digital dollar proxies, potentially boosting Treasury and payment-network usage.
Watch for updates on stablecoin issuance from major banks, legal guidance on reserve structures, and Treasury yield trends. Emergent countries' adoption of digital dollar rails could deepen the dollar's real-world dominance.
