Right now, American consumers and businesses alike are experiencing economic pain and massive uncertainty thanks to the Trump administration’s policies, including costly tarrifs, and the reckless gutting of government programs and services and rules designed to protect the stability of our financial system. Signs of an economic slump may have abated somewhat, but concern is still warranted. Meanwhile, the value of the U.S. dollar on the world stage continues to fluctuate.
This seems like a particularly bad time for Congress to consider legislation that could further undermine our economy and cheapen the U.S. dollar. Yet, some members of the House and Senate have been doing just that by pushing forward legislation that would create a weak regulatory regime for stablecoins: digital assets or “cryptocurrency” with a value claimed to be reliably equivalent to official currency like the American dollar.
