Bloomberg Opinion: Stablecoin Expansion or Reshaping Global Finance, Risk of Regulatory Deficiency Highlighting According to Bloomberg, the US government is betting that stablecoins issued by private institutions such as Tether and priced in US dollars will expand to approximately $3 trillion in size in the coming years to support the international dominance of the US dollar and absorb more demand for US bonds. However, the article points out that the current mainstream stablecoin issuers are concentrated in Tether, which has questionable compliance and anti money laundering practices in its registered location. Once it encounters a run or smart contract failure, it may impact its large holdings of US Treasury assets and disrupt global payments and settlements. The European Central Bank is promoting the use of central bank digital currencies and "tokenized euros" to support atomic settlements, in order to avoid being locked in by US private dollar tokens on critical financial infrastructure.