The US stablecoin market's ambitious target of reaching $2-4 trillion by 2028-2030 faces skepticism from analysts due to legal and international challenges. While the plan aims to increase demand for short-term US Treasury bills, JPMorgan analysts predict a more conservative growth of $700 billion, citing legal constraints on interest-bearing stablecoins and global resistance. Currently, the stablecoin market has exceeded $300 billion following the GENIUS Act, with major players like Tether and Circle holding $155 billion in Treasury bills. S&P Global anticipates an additional $50-55 billion in T-bill purchases by the end of the year, highlighting ongoing market expansion despite the hurdles.