CITIC Securities: The expansion and development of the stablecoin market is a medium- to long-term benefit for the upward trend of cryptocurrencies.

According to a research report from CITIC Securities, stablecoin legislation in the United States and other countries has recently made progress. We believe that the Trump administration is pushing for cryptocurrency-related legislation for three purposes: to help families build and cash in wealth, to promote the expansion of the stablecoin market to alleviate the pressure of insufficient demand for US debt, and to strengthen the relationship between stablecoins and the US dollar to delay de-dollarization. Therefore, the process of formalizing stablecoins is expected to continue. The expansion and development of the stablecoin market is a medium- to long-term positive for cryptocurrencies. However, the accelerated bullish trend of cryptocurrencies may need to wait for policy certainty from Trump.