Will Stablecoin Regulation Secure U.S. Financial Dominance?

The emergence of stablecoins is revolutionizing the financial sector, driving down transaction costs and mirroring the impact of VoIP on long-distance calls in the early 1990s. With over $27 trillion in transactions volume surpassing Visa and Mastercard combined in 2024, providers like Tether now hold more U.S. Treasury assets than countries like Germany and the Netherlands. This has spurred debate about legislation to maintain the U.S.’s status as a global reserve currency.