For years, global crypto advocates saw the U.S. as a barrier to industry growth, blaming the Biden administration and SEC Chair Gary Gensler for a harsh, enforcement-heavy stance. When Donald Trump returned to office with a wave of crypto-friendly orders and appointments, many hoped it signaled a new era of openness. Instead, the shift reflects a strategic move to expand U.S. economic power, not global cooperation.

Central to this strategy is the Genius Act, which establishes a U.S.-centric framework for regulating stablecoins. To operate in the U.S., foreign issuers must hold reserves—effectively U.S. Treasuries—at U.S. financial institutions and submit to U.S.-approved regulatory standards. This ties stablecoin growth directly to demand for U.S. dollar-denominated assets and gives Washington effective veto power over other countries’ crypto regimes.

As crypto adoption surges in regions like Sub-Saharan Africa, Latin America, and Asia, the Act’s requirement for ongoing U.S. review means foreign regulatory systems must continually align with U.S. expectations. This approach contrasts with other global efforts which aim to establish independent hubs.

Rather than entering the global crypto arena as an equal player, the U.S. is positioning itself as a hegemon - ensuring that as digital assets expand worldwide, both the dollar and U.S. oversight remain at the center.