Former House Speaker: Lawmakers Should Consider Embracing Stablecoins in the Face of Growing U.S. Debt

ChainCatcher news, former House Speaker Paul Ryan urged Washington lawmakers to consider establishing a "robust and predictable regulatory framework for stablecoins" in the United States.

In a recent op-ed in The Wall Street Journal, Paul Ryan argued that in the face of growing U.S. debt, one response lawmakers should consider is to embrace stablecoins, making this debt more attractive in international markets and reducing the likelihood of failed debt auctions. If other countries successfully enhance the influence of their currencies while selling off government bonds, the U.S. needs to find new ways to boost the attractiveness of the dollar. Dollar-backed stablecoins are one answer.