Circle Internet Group (NYSE: $CRCL) President Heath Tarbert warned lawmakers on Wednesday that the United States could lose its financial influence if the next generation of money and capital markets develops on infrastructure governed outside the country.
Testifying before the House Financial Services Committee, Tarbert argued that the rise of stablecoins, tokenized ****** ets, and blockchain-based settlement is turning financial infrastructure into software, according to his written testimony. He claimed that this is giving governments a new battleground over where money moves and which laws govern it.
"Congress cannot determine which technologies will succeed. It can determine whether American law, American institutions, and the dollar will remain embedded in the systems that do," Tarbert said.
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Testifying before the House Financial Services Committee, Tarbert argued that the rise of stablecoins, tokenized ****** ets, and blockchain-based settlement is turning financial infrastructure into software, according to his written testimony. He claimed that this is giving governments a new battleground over where money moves and which laws govern it.
"Congress cannot determine which technologies will succeed. It can determine whether American law, American institutions, and the dollar will remain embedded in the systems that do," Tarbert said.
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#american #infrastructure
1 day ago
