The authors, Brian Brooks and Charles Calomiris, urged Congress to implement a “sound and stable regulatory framework” for stablecoins in the country. Brooks is the former CEO of Binance.US, former chief legal officer of Coinbase and served as U.S. Comptroller of the Currency. #ICYMI: U.S leadership in stablecoins can cement the Dollar's global reserve currency status. Our bipartisan Clarity for Payment Stablecoins Act provides the necessary consumer protections to help this technology achieve its full potential. Brooks and Calomiris also argued that stablecoins provide people living under hyperinflation with easier access to the U.S. dollar.

Source: Wall Street Journal August 10, 2023 16:16 UTC