Stephen Gandel is right about banks’ claim that stablecoins will pull deposits from the banking system on aggregate—it’s not possible. Read why:
reuters.com/commentary/bre…
Very Pro-CryptoAdd commentary on this stance
DoTheySupportIt grades politicians on crypto from how they vote and what they say. How it works
Former US Senator from Pennsylvania
Republican · 3 January, 2021 - 3 January, 2023
84 statements
Based on previous comments, Pat Toomey has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Pat Toomey has made about crypto.
Document a missing stance
Tokenization is the future and the GENIUS Act was a visionary move by @POTUS and Congress to ensure US dollar stablecoins issued under US rules would be the primary settlement instrument of the future.
If this issue is mishandled in Senate negotiations on the market structure bill it could hand our global rivals a big assist in giving non-US stablecoins and CBDCs a critical competitive advantage at the worst possible time. Lobbyists for entrenched incumbents will always fight change. It's critical for negotiators to protect the primacy of the US dollar and the US financial system, not just incumbent interests.
