
Opinion by: Christos A. Makridis, associate research professor at Arizona State University and visiting fellow at the Heritage Foundation
Stablecoins received a real boost when US President Donald Trump signed the GENIUS Act earlier this year — and now European banks are trying to get into the act by data-ct-non-breakable=”null” href=”https://www.reuters.com/business/finance/big-european-banks-form-company-launch-stablecoin-2025-09-25/” rel=”noopener nofollow” target=”_blank”>issuing stablecoins of their own.
Their envy of the US dollar’s supremacy, a long-standing pillar of American economic strength, is understandable. In the wake of the GENIUS Act, dollar-backed, privately issued stablecoins are surging in popularity,…

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