PANews reported on June 6 that a research report by CITIC Securities pointed out that the United States and other countries have made phased progress in the recent legislation of stablecoins. The research report believes that the Trump administration has three purposes in promoting cryptocurrency-related bills: helping families accumulate wealth and fulfilling campaign promises; promoting the expansion of the stablecoin market to alleviate the pressure of insufficient demand for US debt; strengthening the binding relationship between stablecoins and the US dollar and delaying the process of de-dollarization. Therefore, the formalization process of stablecoins is expected to continue. The expansion and development of the stablecoin market will be beneficial to the upward trend of cryptocurrencies in the medium and long term. However, the accelerated upward trend of cryptocurrencies may need to wait for Trump's policy certainty.