NewYou can listen to Fox News articles now!
History will record Washington’s embrace of digital assets this year, The next era of dollar rule. Both the Trump administration and Congress have taken the United States first to adopt a blockchain approach, ensuring that we are the people who define how to use, trade and create these new digital assets at home and abroad.
Our opportunity now is to make sure we shape this trend to serve American businesses and families. If the dollar is the currency in the digital age, then Washington must take action to achieve this.
The good news is that durability, bipartisan progress is emerging. this Senate Banking Committee A key part of the blockchain ecosystem – a key legislation from stablecoins, was just proposed in the 18-6 vote of the landslide. The house seems ready to follow its version.
The strength of the dollar is not only a sense of national pride, but also has tangible benefits for American businesses and families. (Igor Golovniov/sopa image/lightrocket via Getty image)
This congressional push reflects the common national necessities of economic and technological competitiveness. Stablecoins is a digital dollar that is secure and free to move on a blockchain network. These are not cryptocurrencies like Bitcoin, they have obvious price volatility. Stablecoins are fully reserved assets, meaning their value is always fixed one-to-one with the US dollar.
Why we must take into account China-European tie, advocate the dominance of industry
Stablecoins is also a key tool Modernized USD For the digital age, make all types of transactions cheaper, safer, and more efficient. If regulated properly, they can consolidate the dollar as the most widely used currency in a rapidly growing Internet finance system – adding the economic strength of the United States to the next generation in the process. President Trump said at the Blockworks Digital Assets Summit that he called on Congress to pass “common sense” legislation and confirm that the stable and stable stablecoins supported by the dollar “release the explosion of economic growth and… expand the dominance of the dollar.”
This shift in U.S. financial policy toward blockchain seems abrupt, but it has been in production for several years, dating back to when I was in the first Trump administration. It reflects structural trends in digitalization that have reshaped every sector over the past few decades, besides finance.
As White House AI and Crypto Czar David Sacks explain: “Financial assets are destined to be digital like every other analog industry, and we want this value creation to happen in the United States.”
The Office of the Currency Auditor (OCC) recently strengthened this shift by announcing that the state banks can issue and handle Stablecoins, marking an important step in integrating these digital dollars into traditional banking systems.
This move places stable bacteria as a core component of legalization US financial infrastructure And provide a clear state for regulated institutions to operate in this market. It is important that they can only play this role if they comply with clear provisions regarding reserves, transparency, one-to-one redemption – key features that inspire trust.
Thankfully, the bill to move in both houses of Congress is promising. Any good law will ensure that consumers are protected from tokens disguised as payment stability, who do not comply with our rule of law and supervision.
Stablecoin issuers should be required to disclose their reserves publicly and undergo an independent audit to confirm these disclosures. And we should also ensure that U.S. companies compete with offshore issuers on a level playing field and inspire building and growth in the United States
The strength of the dollar is not only a sense of national pride, but also has tangible benefits for American businesses and families. The dominant and stable dollar means lower borrowing costs for businesses and homeowners, as global demand for dollar-denominated assets helps reduce interest rates. It also translates into a point of sale for merchants more efficiently, thus reducing costs for retailers and consumers.
President Trump is taking action to bring the golden age to small American businesses
The strong dollar curbs inflation by making imports more affordable, thus ensuring that U.S. households retain more purchasing power. When the dollar remains the global standard, American workers and businesses benefit from the opportunity to gain more access to capital and trade opportunities, thus strengthening U.S. economic leadership.
effort Future US dollars This is a rare issue for the digital age, and it resonates across the political spectrum. For Republicans, it enhances our innovation and competitiveness with our global rivals. For Democrats, it represents an opportunity to modernize financial infrastructure, promote economic inclusion and ensure strong consumer protection.
Both sides recognize that a well-regulated stable framework can strengthen the role of the US dollar in global finance while protecting domestic economic security.
Click here for more Fox News comments
What is stable is not only technological breakthroughs. They represent the development of the global financial structure. If used correctly, they will ensure the advantage of generations of the Jin Dynasty.
With its strategic vision and regulatory clarity, the United States can seize this opportunity and ensure that the dollar remains the anchor of the international monetary system in the digital age. This could be another legacy of the president Donald Trump and Congress leaders.
