According to TechFlow, The Block reported that former House Speaker Paul Ryan urged lawmakers in Washington to consider developing a "sound and predictable stablecoin regulatory framework" in the United States.
In a recent Wall Street Journal opinion piece, Paul Ryan argued that one response lawmakers should consider in the face of growing U.S. debt is to embrace stablecoins to make those debts more attractive in international markets and avoid the possibility of failed debt auctions. If other countries succeed in increasing the influence of their currencies while dumping their national debt, the U.S. needs to find new ways to increase the appeal of the dollar. A dollar-backed stablecoin is one answer.
