Ex-United States House Speaker Paul Ryan has made a compelling call to action for American lawmakers to establish a robust and stable regulatory framework for stablecoins in the country. In a thought-provoking opinion piece published in the Wall Street Journal, Ryan emphasized the importance of creating a clear and predictable regulatory environment for stablecoins.

Ryan, who served under both Presidents Barack Obama and Donald Trump, stressed that a well-crafted framework would not only enhance the attractiveness of American debt in international markets but also mitigate the risk of a failed debt auction, which could have far-reaching consequences for market stability and the nation's credibility. He also drew attention to China's pioneering efforts in digital currency technology, specifically the e-yuan central bank digital currency, and cautioned that the U.S. cannot afford to lag behind its primary competitor in embracing the benefits of secure and convenient digital money.

Furthermore, Ryan pointed out that other nations are actively seeking alternatives to the dollar system for settling payments, and that dollar-backed stablecoins could provide a viable solution to this challenge. To address these pressing issues, Ryan has urged lawmakers to come together in a bipartisan effort to craft a sound and predictable regulatory framework for stablecoins in Congress.

By establishing a clear and stable regulatory environment, the U.S. can ensure that it remains at the forefront of financial innovation while safeguarding the integrity of its financial systems. Ryan's call to action serves as a timely reminder of the importance of proactive leadership in shaping the future of digital currency and maintaining America's competitive edge in the global economy.