According to ChainCatcher, former House Speaker Paul Ryan urged lawmakers in Washington to consider developing a "sound, predictable stablecoin regulatory framework" in the United States.

In a recent Wall Street Journal commentary, Paul Ryan believes that in the face of growing U.S. debt, one response that lawmakers should consider is to embrace stablecoins to make these debts more attractive in international markets and avoid the possibility of failed debt auctions. If other countries succeed in increasing the influence of their own currencies while selling off their national debt, the United States needs to find new ways to increase the attractiveness of the dollar. Dollar-backed stablecoins are one answer.