The need for the U.S to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House speaker Paul D. Ryan stressed.
United States dollar-pegged stablecoins could alleviate the government’s debt crisis and help the country’s dollar keep up with the Chinese yuan — which has been flexing its muscle in international trade, says a former House speaker.
“The U.S. is headed toward a predictable yet avoidable debt crisis,” and dollar-backed stablecoins are “one answer” to keep the dollar attractive, argued Paul D. Ryan in a June 13 Wall Street Journal opinion piece.
Ryan served as the 54th speaker of the U.S. House of Representatives from 2015-2019. The speaker of the House is considered one of the most powerful positions in American politics with an ability to shape the legislative agenda.
