"I do think we can learn a lot from the State regulatory framework, what they have done well, and the things that we can do better."
"Shouldn't we be in the game of de-risking rather than adding to the risk of a Federal bailout or, yes, for these products?"
"There are no lessons learned from the States included in this report, and I was interested in why that was."
"I think we can have some consensus here on how we get ahead, but one area that I think this committee should examine is the current State regulatory frameworks."
"I hope that today we can think bigger and more comprehensively and discuss the potential benefits of increased use of stablecoins."
"Washington's knee-jerk reaction to regulate out of fear will not allow stablecoins to achieve their full potential."
"Currently, there is no Federal law to address digital assets."
"By that same notion, you would like to have a single regulator at the Federal level for all financial institutions."
"But what I am asking is a separate question. Look, this is not an adversarial conversation."
"We should not, as this report does, limit our focus to only the risks."
"We cannot regulate out of fear of the future."