The US government is actively promoting cryptocurrencies, especially stablecoins, which are digital assets backed by a reference currency. This strategy goes beyond the national financial framework; it aims to consolidate the global dominance of the dollar and reshape the international monetary order. By favoring dollar-backed stablecoins, the United States hopes to strengthen the influence of its tech giants in payments, and boost demand for dollar-denominated assets, particularly its public debt. The Genius Act provides the legal basis for this approach, in contrast to the European Markets in Crypto-Assets Regulation (MiCAR), which favors consumer protection over the financial risks of stablecoins. The US policy could weaken the efforts of the European Central Bank (ECB) to increase the international role of the euro, and threatens the monetary sovereignty of many countries. To avoid this, the EU would benefit, along with its partners, from defending a multilateral payment system based on cooperation.