LONDON (Reuters) -Europe’s largest asset manager has raised concerns that a boom in dollar-backed stablecoins in the wake of the United States’ GENIUS Act could cause a major shift in money flows that destabilises the global payment system. The U.S. Senate passed the GENIUS Act a bill last month to create a regulatory framework for the U.S.-dollar-pegged cryptotokens. It is expected to be passed by the House of Representatives and approved by President Donald Trump, leaving other countries worried about a wave of so-called ‘dollarization’ of economies if their own populations buy them.Read More
Amundi warns US stablecoin policy could destabilise global payments system
By Marc Jones
