Stablecoin policy adjustments become the focus: the United States faces new international competitive pressures

【BiTi】Recently, discussions in the US political arena about stablecoin policies have heated up again. A core issue is on the table: how will the proposed “GENIUS Act” amendments affect the US’s influence in the global digital payment expansion?

Industry observers point out that if the reward mechanisms for stablecoins are restricted, the competitiveness of US stablecoins will be significantly weakened. This risk should not be underestimated. Meanwhile, the strategic launch of the digital renminbi’s interest-earning features has changed the game. Users seeking returns are beginning to have new options. This shift is reshaping the competitive landscape of global digital currencies.

Policy makers need to see clearly: the leading position of stablecoin products is directly related to the international competitiveness of the US dollar. If policy adjustments ignore the international situation, the US could be passive in the next stage of digital payments. Currently, US decision-makers are facing a choice that concerns the future — this decision could determine the direction of digital payment competition.