Paxos CEO Charles Cascarilla wrote Tuesday that a regulatory framework for stablecoins should be one of America’s top priorities—no matter who wins the White House next week.

Addressing the Democratic and Republican presidential nominees in a letter, Cascarilla wrote that the U.S. is falling behind other countries without clear rules. Missing a chance to reassert its leadership on digital assets would have stark drawbacks too, he suggested.

“Unless Washington changes course, digital dollars will continue to move offshore, outside the purview of U.S. regulators and our banking system,” Cascarilla wrote. “This is a threat to our economic competitiveness and national security.”

Former President Donald Trump has styled himself as a defender of digital assets on the campaign trail, making overtures more vigorously than Vice President Kamala Harris, who adopted a pro-crypto posture this month. Addressing his letter to both candidates, however, Cascarilla leaned into the need for bipartisan support for “fixing this broken status quo.”

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Author: André Beganski

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