Dunamu's Upbit Investor Protection Center released a report on the '2025 Digital Asset Market Led by the United States' that forecasts the global virtual asset market for next year, it was announced on the 27th.
The report observed that the virtual asset market will undergo a significant transformation led by the United States. It is analyzed that the United States is likely to use stablecoins as a means to maintain and strengthen the dominance of the dollar. Stablecoins are virtual assets linked in value to legal tender such as the dollar, with low price volatility.
According to the report, most of the stablecoins currently under regulation are collateralized by US Treasuries. As of last September, 86% of the collateral for USDC, one of the major stablecoins, was US Treasuries. The reason is that as the issuance of stablecoins increases, the demand for US Treasuries also increases. When the demand for Treasuries increases, the value of the currency of the corresponding country generally rises. It is explained that Donald Trump, the President-elect who opposes central bank digital currencies (CBDCs), will expand the stablecoin market to increase the value of the dollar.
The report expects the virtual asset market to change rapidly, centered on the United States. This is because Republican figures occupied most of the White House in this month's US presidential election, and also secured a majority in both the Senate and the House of Representatives, laying the groundwork for actively pushing policies. As a result, the 'Financial Innovation and Technology Act for the 21st Century (FIT21)' passed by the House in May is likely to emerge as a stronger industry promotion bill. The report stated that "Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC) who has maintained a strong regulatory policy, has also expressed his intention to resign," and "it is likely that a crypto-friendly figure will be appointed as the next chairman, which is expected to accelerate the market change."
- Choi Jae-heon, Reporter
- chsn12@decenter.kr
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