They would need to monitor and report suspicious activity. They would have to comply with U.S. sanctions, and they would have to block transactions that violate state and federal laws. Mr. President, Stablecoins are operating today without any of these requirements. And not passing this bill means allowing the status quo to continue, no consumer protections, no national security safeguards, and the risk of arbitrary enforcement actions from financial regulators. (02:52–02:58)
CLAIM
Asserts that current stablecoin operations lack regulatory requirements.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
