Paxos CEO Urges Trump, Harris for Clear US Stablecoin Regulations, Citing Economic Competitiveness and National Security Threats

Oct 29, 2024, 07:06 PM

Paxos CEO Charles Cascarilla has reached out to Vice President Kamala Harris and former President Donald Trump, urging them to establish clear regulations for stablecoins in the United States. In a letter sent on October 29, 2024, Cascarilla expressed concerns that the current state of digital asset regulation poses risks to the U.S.'s economic competitiveness and national security. He emphasized the need for pro-crypto regulations as the U.S. approaches the presidential election. The letter highlights issues such as regulatory overreach, banking policies, and legal challenges facing the crypto industry, which Cascarilla believes are detrimental to innovation and growth in the sector. This appeal comes amid broader discussions among tech leaders regarding the implications of a potential Trump presidency for the business environment, with some executives reportedly concerned about possible retaliatory actions against perceived adversaries.