"The (US dollar stablecoin) is the ultimate technical form of the post-Bretton Woods system. It elevates the dollar's liquidity supply capacity to an entirely new dimension. It enables bypassing layers of government regulations, circumventing traditional, slow, and expensive banking systems, and directly penetrating every capillary of the global economy, into every person's hand (or device). These ubiquitous payment penetrations will transform the dollar stablecoin process from a gradual progression into an instantaneous tsunami. When a country's inflation expectations slightly rise, capital will no longer 'flow out' but 'evaporate' - instantly disappearing from the local currency system and entering the global crypto network. We can define this attribute as an 'enhanced substitutability of sovereign currency'."

Previous interpretation of the Stablecoin Act: