For many decades, America’s ability to adapt and protect its citizens has determined its prosperity. Each time government leaders set new standards, the nation grows and changes throughout its lifetime.
Today, stablecoins represent that next new way of transformation. While historically known as a skeptical form of digital finance, they are quietly becoming the foundation of how Americans spend their money.
At their core, stablecoins are digital versions of the U.S. dollar, designed to provide stability in the world of crypto. Unlike volatile cryptocurrencies, they serve as a convenient medium of exchange, used to send remittances across borders in seconds, manage transactions without banking delays, and give investors access to liquidity. Everyday, billions of dollars flow through these valuable assets.
Even as stablecoins dominate the financial space, U.S. leaders today have been slow to treat them as essential. For too long, stablecoins were understood as harmful novelties, posing concerns like de-pegging, market disruption, and systematic downfall.
Yet, as modern day suggests, that view is no longer true nor sustainable. Without a united front, America might lose control to foreign governments who will write the rules of the digital economy in their own interest.
According to Igor Volovich, Executive Director of Strategy at America First Technology Infrastructure & Innovation Institute (America First Tech), he puts it this way:
“Everyone’s talking about stablecoins, but no one’s talking about the vacuum we’re in. The technology is here. The use cases are beginning to stack. But we still don’t have rules grounded in the public interest. If we wait for consensus to magically appear, whether it comes from Silicon Valley, Beijing, or behind closed doors, we’ll end up living under rules written by someone else. That’s how we get systems no one intended, but everyone has to live with.”
To meet the momentum, Congress has already taken first steps to address this dilemma head on. With the recent passing of the GENIUS Act, which requires stablecoins to be fully backed by U.S. dollars or other liquid assets, it is a meaningful move. Still, to lead effectively in this era, the nation is far from perfect.
Much more than a new law, America needs a comprehensive strategy built around trust, sovereignty, and the people.
“To move forward, we need to bring the right people into the room, those who understand both the technology and the stakes, to have the right conversations now, before options quietly disappear,” Volovich adds.
In other words, to act progressively, there are ways to move forward. This includes efforts like:
- A clear framework. The U.S. must create a regulatory foundation that protects consumers and sets strict but fair requirements for issuers.
- Convening experts. No one can address this challenge alone. U.S. leaders must conversate with technologists, economists, and society to ensure balanced and comprehensive solutions.
- Investing in research. By doing thorough research, U.S. policymakers can keep current happenings of digital finance afloat.
- Acting with urgency. Quick, proactive steps will keep America ahead of the game, without risking being sidelined by authoritarian regimes.
- Shifting the mindset. A simple shift in perspective can go a long way. This means being open and vulnerable to the complications at large.
If America hesitates in this moment, it will forfeit itself to systems elsewhere, with rules it did not design. But by acting with intention now, U.S. policymakers and legislators can ensure that the values of transparency, accountability, and democracy do not go unnoticed.
As it seems, America’s digital landscape stands at an all time low. But just like America has led in every wave of innovation, it can remain triumphant if the people in Washington embrace stablecoins wholly.
Ultimately, no longer should the digital landscape fall behind. Because the stablecoin era is here, and it is not going away anytime soon.
The question is not whether the digital economy will change. It’s how America can face the pressure.