The "Currency in the Crossfire" event in Washington, D.C., hosted by Foreign Policy magazine, highlighted the urgency for the U.S. to maintain the global competitiveness of the dollar by embracing digital currencies and blockchain technology. Circle Co-Founder Jeremy Allaire emphasized the importance of developing a robust regulatory framework for payment stablecoins, likening their potential impact to that of "http" on the internet, as a means to secure the U.S. dollar's primacy in the global economy. The event underscored the strategic, national security, and competitive risks posed by other jurisdictions advancing their digital asset frameworks, and the need for U.S. policymakers, including Congress and the Biden Administration, to act decisively. Allaire argued that the race to adopt digital asset-based financial innovations is as much about upholding western, liberal values as it is about technological advancement, calling for nonpartisan support to foster financial stability and consumer protection through clear legislation.