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Paradigm's Official Website urges Congress to Legislate quickly regarding Stablecoins in the Cryptocurrency Industry

Paradigm released a stablecoin policy document on its official website. It believes that stablecoins pose lower risks compared to bank deposits and that the risk management framework for stablecoins should be designed to manage unique risks associated with stablecoins. These risks are different from those found in traditional banking and differ from those associated with money market funds (MMF) in practice. If stablecoins were to be regulated as money market funds, most stablecoins would lose their utility.

Paradigm urged Congress to take immediate action to enact legislation to address the risks posed by stablecoin arrangements while still allowing for the payment of stablecoins to continue to function and innovate.

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