WASHINGTON — The Trump administration is advancing a new law that aims to establish the U.S. dollar as the dominant currency in the blockchain world and further solidify its status as the world reserve currency.
The amount of stablecoin — a type of cryptocurrency that is pegged to assets like currency or gold — tied to the dollar could expand to $2 trillion. The emergence of a “cryptodollar” may mark the third act in the hegemony of the U.S. dollar, following the eurodollar of the 1950s and the petrodollar of the 1970s.
