Lee Bratcher, President of the Texas Blockchain Council, emphasizes that lawmakers' apprehension toward blockchain technology largely stems from a lack of understanding rather than a fear of innovation. Bratcher explains that many lawmakers, especially from older generations, are unfamiliar with how blockchain operates, which leads to hesitation in supporting its integration into financial systems. He argues that a shift is needed, highlighting that failing to adopt blockchain could cause the U.S. to fall behind international competitors. Bratcher positions stablecoins as a significant application of blockchain, suggesting they enhance the efficiency of global financial transactions and bolster the demand for U.S. treasuries, thereby helping to maintain the dollar's status as the world’s reserve currency. Furthermore, proposed legislation, such as Senator Bill Hagerty's bill on dollar-pegged stablecoins and the Financial Innovation and Technology for the 21st Century Act, aims to establish clearer regulatory frameworks for digital assets.

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