US GENIUS Act May Undermine Dollar, Disrupt Global Payments

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European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing unintended consequences for the global payment system, and even threatening the long-term dominance of the greenback itself.

“It could be genius, or it could be evil, said Vincent Mortier, Amundi’s chief investment officer, in a recent interview with Reuters

While dollar-backed stablecoins have long been seen as a way to guarantee the dollar’s global hegemony, promoting a stablecoin could actually create “an…



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US GENIUS Act May Undermine Dollar, Disrupt Global Payments


European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing unintended consequences for the global payment system, and even threatening the long-term dominance of the greenback itself.

“It could be genius, or it could be evil, said Vincent Mortier, Amundi’s chief investment officer, in a recent interview with Reuters

While dollar-backed stablecoins have long been seen as a way to guarantee the dollar’s global hegemony, promoting a stablecoin could actually create “an…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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