不是中俄，而是美国正废掉美联储，挖SWIFT结算体系墙角

Group 1 - The core viewpoint of the article is that the recently signed Stablecoin Regulation Act, known as the "Genius Act," represents the first federal legislation on stablecoins in the U.S., establishing an official regulatory framework for the issuance and management of payment stablecoins [1][3] - The act mandates that all stablecoins must be fully pegged to the U.S. dollar or U.S. Treasury securities, which is expected to convert global demand for stablecoins into direct support for U.S. debt, thereby reinforcing the international dominance of the dollar [3] - The promotion of stablecoins is seen as a strategy to weaken the financial systems of smaller countries, allowing private stablecoins to replace local currencies for cross-border payments in high-inflation regions like Latin America and Africa, thus expanding the actual usage of the dollar [3] Group 2 - The act is perceived as a means to alleviate the pressure of the $37 trillion national debt by creating new demand for U.S. Treasury securities through stablecoin users, effectively redistributing potential risks associated with U.S. debt [3][5] - For instance, Tether holds $98.5 billion in U.S. Treasury securities, and a 1% increase in its scale could lower the yield on one-month Treasury bills by approximately 3.8%, saving the U.S. government about $15 billion annually in interest payments [3][5] - The legislation explicitly prohibits the issuance of central bank digital currencies (CBDCs) in the U.S., favoring the operation of private stablecoins, which grants Wall Street unlimited minting rights and shifts control over future exchange rate and interest rate decisions [5] Group 3 - The Trump administration aims to leverage U.S. technological advantages in blockchain and artificial intelligence to reshape global financial infrastructure and counter the rising trend of "de-dollarization" [5][6] - The promotion of stablecoins is intended to lower settlement costs and compete with the SWIFT international settlement system, which has traditionally been dominated by the European Union [6] - In response to this strategy, China has accelerated the internationalization of its digital yuan and established a regulatory framework for domestic stablecoins, prohibiting foreign stablecoin transactions to ensure financial stability [10][11]