TechFlow, June 6 — According to Jinshi Data, CITIC Securities' research report indicated that recent stablecoin legislation in the U.S. and other countries has made phased progress. The report suggests the Trump administration has three objectives in advancing cryptocurrency-related bills: helping his family accumulate wealth and fulfill campaign promises; expanding the stablecoin market to alleviate insufficient demand for U.S. Treasury bonds; and strengthening the linkage between stablecoins and the U.S. dollar to slow down de-dollarization. Therefore, the formalization of stablecoins is expected to continue. Moreover, the expansion and development of the stablecoin market will be a medium- to long-term positive factor for cryptocurrencies. However, an accelerated upward trend in cryptocurrencies may need to await policy clarity from Trump.
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