Yuyuan Tan Tian: Is stablecoin the "life-saving pill" for the US dollar? Yuyuan Tan Tian posted, 'Is stablecoin the' life-saving pill 'for the US dollar?'? ”On June 17th local time, the US Senate passed the "Guiding and Establishing a National Innovation Act for Stablecoins in the United States" with 68 votes in favor and 30 votes against, establishing regulatory rules for stablecoins pegged to the US dollar. The bill requires that for every $1 stablecoin issued, it must be backed by equivalent high liquidity and safe assets, and includes stablecoins in the anti money laundering and financial regulatory system. Analysis suggests that stablecoins have the potential to alleviate the pressure on US Treasury bonds and deepen the influence of the US dollar in the global financial system, but they also face systemic risks and regulatory challenges. If it cannot be designed reasonably and its risk attributes are ignored, using it as a leverage tool to increase debt, delaying the resolution of the substantive problems of the US dollar itself, and even serving as a "sickle" to harvest the sovereignty of other countries' currencies, it will undoubtedly lead to the accumulation of risks and bring backlash to the operation of the US financial system.