Forget CBDCs. Stablecoins are the next big thing. Why bother making a new digital currency from scratch, when governments can already use stablecoins and make it their own? They can introduce laws to help require stablecoin issuers to force KYC/AML compliance and give them complete control of the system. In such an scenario, central banks will cease to exist as monetary policy will lie directly in the hands of governments and corporations.

I think that's precisely what the Trump administration is doing. Trump signed an executive order to prevent the creation of a US CBDC. But the new GENIUS act (meant for regulating stablecoins) could be the path towards making US-backed stablecoins the official digital currency of America. In other words, stablecoins will indirectly become the new CBDCs. I'm talking about Tether USD (USDT), USD Coin (USDC), USD1, and the likes. At least, that's how I see it.

Wouldn't you agree? Share your thoughts/opinion below. Thanks.