Former House Speaker: US Should Use Stablecoins to Fight China

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The impact of crypto policy on the 2024 Presidential race is becoming increasingly apparent, with indications that the Biden administration is taking a more proactive approach and former President Trump expressing his support for keeping crypto companies in the US.

Former Speaker of the House Paul Ryan, who now serves on the Policy Council of crypto-focused VC firm Paradigm, is also entering the debate by urging lawmakers in Washington to create a stable regulatory framework for stablecoins.

In a recent op-ed for the Wall Street Journal, Ryan suggested that embracing stablecoins could help to make the growing American debt more appealing in international markets and prevent a potential failed debt auction, which could harm US credibility and disrupt financial markets.