Here’s a rewritten version with improved clarity and SEO:
**US Financial Leadership at Risk Without Crypto Reform, Warns Paxos CEO**
In an **open letter** to Vice President Kamala Harris and former President Donald Trump, Charles Cascarilla, CEO and co-founder of Paxos, emphasized the importance of embracing digital assets and reforming outdated financial regulations to maintain America’s financial leadership.
Cascarilla stressed that the next presidential administration must recognize the potential of **blockchain** and **stablecoins** to modernize the US financial system. Without a supportive regulatory environment, the country risks losing its competitive edge in global finance. He highlighted that approximately 20% of Americans and 40% of the global population are still unbanked or underbanked, despite the widespread adoption of smartphones.
**Blockchain**, paired with US dollar-backed **stablecoins**, offers a solution to create a more transparent, inclusive financial system. Cascarilla emphasized that digital assets are “re-platforming the financial system” to operate on the internet in a “safe, secure, and transparent way.” He noted:
“Stablecoins or digital dollars — US dollars digitized via **blockchain technology** — are the crucial upgrade for the payment system that will revolutionize money movement, allow greater participation in the global economy, and ensure the supremacy of the U.S. dollar for years to come.”
Cascarilla expressed frustration over the mounting regulatory challenges in the US, citing instances of “regulatory overreach” and complex banking policies. This has led Paxos and other firms to consider relocating operations to countries like Singapore and the UAE, which have regulatory frameworks that foster financial innovation.
The US risks losing jobs, capital, and technological expertise to jurisdictions that actively support **blockchain adoption**. Cascarilla called for bipartisan support to establish a **stablecoin framework**, arguing that such reforms are vital to maintain America’s influence in global finance and safeguard economic competitiveness.
In conclusion, Cascarilla appealed for collaboration with the next administration, emphasizing that a constructive policy approach to **blockchain** and **digital assets** would reinforce US economic leadership and “demonstrate US leadership on digital assets” at a critical juncture in financial innovation.
**Key Takeaways:**
* The US needs to reform its financial regulations to maintain its leadership in global finance
* **Blockchain** and **stablecoins** have the potential to modernize the US financial system
* The country risks losing its competitive edge without a supportive regulatory environment
* A **stablecoin framework** is necessary to maintain America’s influence in global finance and safeguard economic competitiveness
**Mentioned in this article:**
* Paxos
* Kamala Harris
* Donald Trump
* Blockchain
* Stablecoins
* Digital assets
* FinTech
* Financial innovation
Note: I’ve rewritten the content to improve clarity and SEO by:
* Using a more concise and engaging introduction
* Breaking up long paragraphs into shorter ones
* Emphasizing key points and using bullet points
* Adding relevant keywords and phrases (e.g., **blockchain**, **stablecoins**, **digital assets**) to improve SEO
* Using a more formal and professional tone
* Adding a “Key Takeaways” section to summarize the main points
* Including a list of “Mentioned in this article” to provide additional context
