#StablecoinPayments For the past two decades, electronic money, payments and broader fintech innovations have been regulated in the U.S. under Money Services Business and Money Transmission statutes. This is an approach the U.S. Department of the Treasury has embraced for crypto assets nearly ten years ago with the introduction of FinCEN’s guidance for firms acting as a bridge between the existing banking system and digital assets. With digital currencies now being adopted globally as an internet-native medium of exchange, competition for the currency of the internet has now been amplified as a geopolitical and geoeconomic issue. Some are framing this as a digital currency space race, while others are arguing that the U.S. has the opportunity to lead the way, leveling the playing field amid intense international competition. As the Biden Administration’s Executive Order works its way through a whole-of-government review, there is no greater testament to national unity of purpose