The message appears to have been received, with the U.S. Congress now closer to passing stablecoin regulation law known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
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Digital Currency Showdown: Chinese Tech Giants Plot Yuan Stablecoin Strike Against the Dollar
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JD.com and Ant Group’s stablecoin efforts are partly driven by the U.S. GENIUS Act, which could legitimize dollar-backed stablecoins and entrench the dollar's digital dominance.
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