You know that PayPal has already launched its own stablecoin.
The company Circle and Tether uses a dollar stablecoin, which is used not only by American companies. If the McHenry bill is passed in the US, will it strengthen the dollar as the world's reserve currency?
You are right that potential passage of Mchenry bill will be very positive development, and the adoption of stable coins, including those pegged to US dollar by American companies and international users could potentially contribute to the dollar influence in the global financial system. However, it is important to note that status of stablecoins and cryptocurrencies regulations, global economic dynamics can change rapidly.