They offer the speed and security of the blockchain with the stability and usability of a dollar bill. And they're a business and consumer friendly way of making payments. Mr. President, Hundreds of billions of dollars of stablecoins are in circulation today. The vast majority are dollar denominated. But in the United States, stablecoins have operated in a legal gray zone. Stablecoin issuers trying to follow the rules can't be sure what rules to follow. (00:54–00:59)
CLAIM
Asserts the significant circulation of stablecoins in the financial market.
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