Amundi Warns US GENIUS Act May Undermine Dollar Dominance and Disrupt Stablecoin Markets

Published at:2025年07月04日 09:26
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Amundi, Europe's largest asset manager, has issued a warning that the proposed GENIUS Act in the United States could have unintended consequences for global financial stability. According to their analysis, the legislation may inadvertently weaken the US dollar's position as the world's reserve currency while triggering disruptive shifts in the global payments ecosystem through an uncontrolled proliferation of dollar-pegged stablecoins.

The firm's research suggests that by potentially loosening oversight on cryptocurrency markets, the GENIUS Act could accelerate the creation of new dollar-backed stablecoins without adequate safeguards. This scenario might lead to increased volatility in traditional currency markets and complicate international monetary policy coordination. Experts at Amundi emphasize the need for careful consideration of how stablecoin regulation interacts with broader macroeconomic stability.
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Amundi GENIUS Act US dollar stablecoin cryptocurrency regulation