Many people have misunderstood — the US legislation passing the stablecoin bill is not at all paving the way for official digital currencies. In fact, stablecoins like USDT and USDC have been in circulation for a long time, and the market has already spoken through its actions. The bill came later; the US government saw that these assets had been widely adopted and decided to bring them under a regulatory framework. This is not "firing the arrow before drawing the target," but rather "the target already exists, and we are going to regulate it."

To put it simply, the US government has never issued a digital dollar and is unlikely to do so in the future. Stablecoins have always been the work of private enterprises — Circle in the US, Tether in Hong Kong. Their existence has little direct relation to the Federal Reserve or the US Treasury. Stablecoins are not meant to dilute the dollar or US debt; that logic simply doesn’t hold up.

Many people still don’t understand what a market economy is. The market is just the sum of all participants’ willingness — why can stablecoins circulate? Because investors voluntarily choose them and are willing to allocate funds into them. From another perspective, suppose the US government actually issued an official digital currency claiming to be pegged to the dollar as a stablecoin, market participants might instead question and hesitate, possibly not accepting it at all.

Why does Trump favor cryptocurrencies? He’s very straightforward — during times of volatility in the capital markets, crypto assets can diversify risk, provide liquidity, and enhance market resilience. The value of stablecoins is also derived in this way; it’s purely the result of market choice, and has nothing to do with legislative progress in Washington.