Political Quotes

“Mr. President, it has been well over a decade since the term ``cryptocurrency'' entered our lexicon. Like many innovations, cryptocurrencies were at first seen as a novelty--something used by few and understood by even fewer. But that changed quickly. More people began using and purchasing digital assets, innovation took place, and crypto demonstrated its staying power. Stablecoins are an important part of the crypto ecosystem. Many digital asset advocates believe in holding Bitcoin, given its price fluctuations and growth in value over the last several years. Stablecoins, however, have a value that is pegged to an asset, usually the U.S. dollar. They offer the speed and security of the blockchain with the stability and usability of a dollar bill, and they are a business and consumer friendly way of making payments. Hundreds of billions of dollars of stablecoins are in circulation today. The vast majority are dollar denominated. But in the United States, stablecoins have operated in a legal gray zone. Stablecoin issuers trying to follow the rules can't be sure what rules to follow. The Biden administration chose to regulate crypto companies by arbitrary enforcement measures. Regulators filed numerous lawsuits against crypto firms. These hostile actions led a number of U.S.-based companies to consider moving out of the United States altogether. I think we all agree the United States should be the world's leader in financial innovation.…”