Global Economy & Policy Insight Weekly 9 July 2025 Takahide Kiuchi is executive economist at Nomura Research Institute. This is his personal view. Takahide Kiuchi t-kiuchi@nri.co.jp To receive this publication, please contact your local Nomura representative. US stablecoins and prospects for continued US dollar hegemony Summary: The US Congress has begun to develop regulations aimed at promoting the sound development of stablecoins in the United States. The Congress' action reflects the Trump administration ...