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In short, US Genius Act stablecoins will create an automatic demand for US Treasury purchases while also butt-raping the eurodollar as the main means of conducting intl trade.. Only thing that MAY compete worldwide with it would be a gold 'backed' stablecoin. China is making that play, it seems. The competition will be good for everyone except Congressional Drunk Spenders.
Here is how it is defined and explained: view pdf