Sec

Congress should write clear stablecoin statutes instead of letting the SEC and state regulators issue conflicting enforcement threats. A federal framework with reserve audits and issuer licensing would protect consumers without smothering innovation.

Stablecoins backed by cash reserves are payment instruments, not securities. Congress should pass a federal charter with one-to-one reserve rules, public audits, and state-federal cooperation instead of letting the SEC sue the industry into exile.

The SEC's June 2 crypto guidance treats staking tokens as securities, wiping out $47 billion in value and threatening the $287 billion stablecoin market with bank-style regulation that favors Wall Street incumbents over ordinary savers.