The whole world is embracing stablecoins, so why is the domestic market going backwards? The qualitative statement on the 28th shattered all the fantasies about stablecoins in the industry over the past few years. On the surface, it is a regulatory policy, but in reality, it is a statement about monetary power. The United States has turned stablecoins into an extension of the digital dollar with the GENIUS Act. Domestically, this categorization has deemed stablecoins illegal. Both sides are very clear about what they are doing. 01 \|