PANews reported on February 25 that Vance Spencer, co-founder of Framework Ventures, wrote on the X platform that the upcoming stablecoin bill may restrict the entry of international centralized stablecoin issuers into the U.S. Treasury market. He believes that this is actually the behavior of domestic interest groups in the United States using regulatory means to exclude competitors, which may weaken the global hegemony of the U.S. dollar and aggravate the U.S. debt problem. Spencer emphasized that the largest source of stablecoin demand today is overseas, and continuing to adopt a hostile regulatory attitude may cause the United States to lose its dominant position in the stablecoin industry.