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BlackRock: "Stablecoin regulatory law 'Genius Act' expected to strengthen dollar dominance"
Summary
- BlackRock recently evaluated that the newly enacted stablecoin regulations in the United States could strengthen the international standing of the dollar.
- The "Genius Act" institutionalizes dollar-linked stablecoins, potentially expanding the dollar-centric payment structure on the basis of digital assets.
- BlackRock stated that a tokenized dollar system could drive demand for the digital dollar in emerging markets.
Global asset management firm BlackRock recently assessed that stablecoin regulations enacted in the United States could enhance the international standing of the dollar.
According to Walter Bloomberg, an overseas economic news channel, BlackRock recently predicted that the 'Genius Act', which was passed by the U.S. Congress, could expand the dollar-centric payment structure on a digital asset basis by institutionalizing dollar-linked stablecoins.
BlackRock explained, "If a tokenized dollar system is established, it will allow easier access to the dollar even in emerging countries where the distribution of the traditional dollar is difficult," adding, "This can stimulate demand for a more stable digital dollar rather than local currencies with high volatility."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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