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The War to Control Stablecoins Is On!

  • The US Senate Banking Committee pushed stablecoin legislation in 2025 to support legitimate dollar-pegged stablecoins and ban CBDCs permanently.
  • This move responds to rapid market growth, with stablecoins valued at $254 billion and projected to exceed $2 trillion by 2028, amid increasing corporate interest.
  • Large financial institutions and payment companies are moving to dominate stablecoin technology, posing a challenge to early blockchain advocates who prioritize decentralization and broad financial access.
  • Tether leads the market with $149 billion in assets and $1 billion Q1 profits, while experts warn stablecoins will no longer go unrivaled amid institutional competition.
  • The growing stablecoin ecosystem implies a shift in global financial infrastructure, urging crypto natives to innovate or risk being overtaken by centralized giants.
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Cointelegraph broke the news in on Friday, May 16, 2025.
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