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. The Biden administration chose to regulate crypto companies by arbitrary enforcement measures. (01:02–01:07)
CLAIM
Asserts that stablecoins lack clear regulatory guidelines in the U.S.
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