$TRUMP

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Backs Stablecoins, Strengthening Tether and Circle’s

Market Position

In a significant move to reinforce the role of stablecoins in the global financial ecosystem, Donald Trump has issued an executive order supporting dollar-backed stablecoins. This directive is designed to foster the growth of digital assets tied to the US dollar while ensuring regulatory clarity. Leading stablecoin issuers, Tether and Circle, who control over 90% of the market, are expected to benefit significantly from this decision.

The executive order establishes a working group composed of key government agencies, including the Treasury, SEC, CFTC, and Justice Department, to craft comprehensive digital asset policies within six months. This collaboration aims to protect the US dollar’s dominance while offering a robust framework for stablecoin regulation. By halting the development of a central bank digital currency (CBDC), Trump’s administration has effectively cleared the path for stablecoin innovation to thrive, reinforcing their role as a vital component of the financial system.

Stablecoins like Tether’s USDt and Circle’s USDC are already widely used, with USDt alone serving over 300 million people worldwide for payments and transfers. Tether CEO Paolo Ardoino highlighted the utility of dollar-backed stablecoins, emphasizing their ability to preserve purchasing power and provide financial stability in underserved regions.

Trump’s move reflects a broader vision of leveraging stablecoins to strengthen the US dollar’s global supremacy. While some concerns remain about potential risks to financial stability, the administration believes that properly regulated stablecoins can bolster the currency and enhance international trade efficiency.

This bold initiative underscores the growing recognition of digital assets and their transformative potential in modern finance, positioning the US as a leader in stablecoin adoption and innovation.

#Stablecoins #TrumpCryptoOrder #Tether #Circle

#DigitalAssets