The inevitable decline of the status of the US dollar, GENIUS Act endows stablecoins with more missions For Trump, it is acceptable to sacrifice the position of the US dollar in international currency reserves appropriately in order to achieve the goal of manufacturing return Part of the reason for the hollowing out of the manufacturing industry currently facing the United States is due to the strength of the US dollar When the US dollar continues to strengthen, the world's demand for the dollar continues to rise, which also leads to a sustained financial surplus and ultimately partially leads to a sustained trade deficit, causing the US manufacturing industry to flee Therefore, in order to ensure the return of manufacturing, Trump will frequently use tariffs as a weapon, but in the process, it will accelerate the decline of the US dollar's status It can be said that in the context of the rapid evolution of the global financial landscape, the relative weakening of the control of the traditional US dollar has become an undeniable fact. This change is not due to a single event or policy error, but rather the result of the long-term accumulation and evolution of multiple structural factors. Although at first glance, the dominant position of the US dollar in international finance and trade remains stable, upon closer examination from the perspectives of underlying financial infrastructure, capital expansion paths, and the effectiveness of monetary policy tools, its global influence is facing systemic challenges. Firstly, it must be acknowledged that the multipolar trend of the global economy is reshaping the relative necessity of the US dollar. In the past paradigm of globalization, the United States, as the center of technology, institutions, and capital exports, naturally had the right to speak, thus promoting the US dollar as the default anchor currency for global trade and financial activities. But with the rapid development of other economies, especially the growth of financial self-organization systems in Asia and the Middle East, this single settlement mechanism centered on the US dollar is gradually facing competition for alternative options. The global liquidity advantage and settlement monopoly position of the traditional US dollar are beginning to be eroded. The decline in the control of the US dollar does not mean a collapse of its status, but its uniqueness and necessity are weakening. The second important dimension comes from the credit overdraft trend exhibited by the United States in its fiscal and monetary operations in recent years. The past credit expansion and rampant issuance of US dollars, although not the first occurrence, have significantly amplified their side effects in the digital age with higher global market synchronicity. Especially as the traditional financial order has not yet fully adapted to the new growth model dominated by digital economy and AI, the inertia of US financial governance tools is evident. The US dollar is no longer the only asset carrier that can provide global clearing and value storage, and its role is gradually being diluted by diversified protocol assets. The rapid evolution of the Crypto system is also forcing the sovereign monetary system to make strategic compromises. The oscillation between passive response and active adjustment further exposes the limitations of the traditional US dollar governance system. The passage of the GENIUS Act can be seen to some extent as a strategic response and institutional transfer of the US federal system to this new era of financial logic. In summary, the relative decline in the control of the traditional US dollar is not a drastic collapse, but rather a gradual institutional and structural dissolution. This dissolution comes not only from the multipolarity of global financial power, but also from the lagging financial governance model of the United States itself, and more importantly, from the ability of the Crypto system to reconstruct new financial instruments, settlement paths, and currency consensus. In such a transitional period, the credit logic and governance mechanism relied upon by the traditional US dollar need to be deeply reshaped, and the GENIUS Act is the prelude to this attempt at reshaping. The signal it sends is not simply regulatory tightening or expansion, but a fundamental shift in the paradigm of monetary governance thinking.