Securing Digital Dollar: Why Congress Must Get Stablecoin Right

After more than a decade of conflicting guidance at the federal level, Congress is finally on the verge of passing legislation to provide clear guidelines for payment stablecoins. Indeed, in early May, Senate Majority Leader Thune moved to expedite the Senate’s stablecoin bill and bring it to a floor vote before Memorial Day. These rules have the potential to unlock a more inclusive, modern, and efficient financial system for American families, workers, and business. But we can achieve this future only by ensuring a fair and level playing field that protects consumers—and the U.S. economy—from bad actors who would exploit our markets.