According to Circle’s official blog, the issuer of the USDC stablecoin participated in the U.S. Congress’s hearing on “Understanding the Role of Stablecoins in Payments and the Need for Legislation” on April 19, according to Dante Disparte, Circle’s chief strategy officer and head of global policy , the transmission of payment stablecoins like USDC is a form of electronic cash denominated in US dollars, which can simultaneously enhance the economic competitiveness and national security interests of the United States. Over time, as long as the US regulatory framework is in place, a digital dollar form will emerge with legal certainty, internet-scale transferability, basic protections (including equal redemption rights in case of issuer bankruptcy, privacy) , the rule of law, and other key features, the only way to achieve this is for the US Congress to enact comprehensive payments stablecoin legislation.