Crypto-Friendly Ex-Speaker Pushes for U.S. Stablecoin Legislation
- Paul Ryan urges U.S. lawmakers to promote dollar-backed stablecoins to strengthen U.S. debt attractiveness.
- Ryan calls for a sound, predictable regulatory framework for stablecoins in Congress.
- Embracing stablecoins could prevent a failed debt auction and bolster U.S. financial credibility.
Former Speaker of the House Paul Ryan has made a strong call for U.S. lawmakers to promote dollar-backed stablecoins to enhance the attractiveness of U.S. debt in international markets.
In a recent Wall Street Journal opinion piece, Ryan argued that adopting stablecoins could avert a failed debt auction, a scenario that would severely damage U.S. credibility and disrupt financial markets.
Ryan, who retired from his role as the leading Republican in the House of Representatives in 2019 and now serves on the Policy Council of the crypto-focused VC firm Paradigm, emphasized the strategic importance of a robust and predictable regulatory framework for stablecoins.
He contends that such a framework would make U.S. debt more appealing to international investors, particularly as countries like China expand the influence of their currencies and seek alternatives to the U.S.…
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