Congress Urged to Pass Bipartisan Stablecoin Legislation This Year to Set Standards and Protect Consumers

Payment stablecoins form an important new base layer for payments, commerce, remittances and humanitarian aid. Their rapid growth reflects real-world utility as digital dollars.

Congress should pass bipartisan stablecoin legislation to provide strong supervision of issuers, asset backing requirements, and other consumer protections.

Legislation is urgent to set standards, differentiate trustworthy stablecoins from unstable ones, and protect the dollar's status.

Stablecoins help expand financial inclusion to underserved groups by lowering costs of sending, spending, lending, and exchanging money.

Passing stablecoin legislation this year will establish standards to protect consumers, improve stability, and advance the dollar as the internet's main currency.