Leading officials in U.S. financial regulation, including Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen, and Deputy Treasury Secretary Wally Adeyemo, have recently advocated for Congressional regulation of stablecoins. On April 17, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aimed at creating a regulatory framework
