Viewpoint: The full implementation and promotion of the US dollar stablecoin will consolidate the global penetration of the US dollar and alleviate the risks of US debt.

The trend of "de-dollarization" has recently become a hot topic again. Liu Yuanchun, president of Shanghai University of Finance and Economics, stated that the recent US legislation targeting digital finance and digital currencies, allowing for the full implementation and promotion of US dollar stablecoins, not only consolidates the dollar's penetration and stability in the global system but also alleviates the risks posed by US debt. Sid Reed, director of the East Asian Institute at the National University of Singapore, pointed out that on the one hand, the US embrace of cryptocurrencies and stablecoins is driving the global trend of "dollarization"; on the other hand, the potential risks of over-reliance on the US dollar are becoming increasingly apparent. (Lianhe Zaobao)