A U.S. congressman emphasized the importance of a well-regulated stablecoin market in maintaining the dominance of the US dollar. During a congressional hearing, he stated that stablecoins can modernize payments, expand financial access, and reduce government overreach. The hearing discussed the STABLE Act, which aims to establish regulatory standards for stablecoin issuers while ensuring compliance with financial regulations. The congressman also warned against the introduction of a central bank digital currency (CBDC), stating that it could undermine the competitive advantage of the dollar and centralize financial power within the government. The committee is committed to ensuring the US remains a leader in financial innovation, with stablecoins playing a key role in sustaining the global dominance of the dollar.



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