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Former CFTC chair Chris Giancarlo and his former chief innovation officer Daniel Gorfine argue that the U.S. government can use stablecoins to protect the dominance of the U.S. dollar. They say the U.S. is falling behind in the crypto race, but could leverage stablecoins and a central bank digital currency (CBDC) to maintain the dollar's status as the global reserve currency.[1]

Citations:
[1] https://www.coindesk.com/tv/unchained/how-the-us-government-can-protect-the-dollar-through-stablecoins/
[2] https://www.fintechanddigitalassets.com/2024/05/us-senators-introduce-comprehensive-stablecoin-bill/
[3] https://www.bloomberg.com/tosv2.html?url=L29waW5pb24vYXJ0aWNsZXMvMjAyNC0wNS0zMC90ZXRoZXItYW5kLW90aGVyLXN0YWJsZWNvaW5zLW5lZWQtdG8tYmUtcmVndWxhdGVk&uuid=3e43f543-1e7e-11ef-980a-04e6053ad4fd
[4] https://www.huntonak.com/blockchain-legal-resource/senators-introduce-stablecoin-bill
[5] https://www.warren.senate.gov/newsroom/press-releases/warren-urges-house-financial-services-committee-to-protect-consumers-financial-stability-and-national-security-as-they-consider-stablecoin-regulations

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