PANews reported on March 12 that U.S. Congressman Tom Emmer said at a hearing of the House Financial Services Committee that legislation supporting stablecoins should be prioritized, while criticizing central bank digital currencies (CBDCs) for threatening American values. He reiterated his support for the Anti-Surveillance State CBDC Act, which aims to prevent future executive branches from launching CBDCs without congressional approval. Emmer warned that allowing unelected officials to issue CBDCs could subvert the American way of life.
In addition, Paxos CEO Charles Cascarilla urged lawmakers at the hearing to develop unified stablecoin regulatory rules to avoid regulatory arbitrage. He suggested that the United States coordinate with global regulators to ensure global uniformity of stablecoin issuance rules, thereby promoting healthy competition in the industry.
