Paxos CEO urges Harris and Trump to establish cryptocurrency-friendly regulations before the U.S. election

ChainCatcher news, according to The Block, one week before the U.S. election, Paxos CEO Charles Cascarilla urged presidential candidates Harris and Trump to create a more favorable regulatory environment for digital assets and to establish a regulatory framework for stablecoins.

In a letter sent to the two candidates on Tuesday, Cascarilla stated, "As the CEO and co-founder of Paxos, one of the leading companies in the tokenization and blockchain infrastructure space, I urge you to implement a more favorable and clearer regulatory environment for digital assets." Cascarilla also warned that if the next government fails to follow through, the future of financial regulation could be at risk. He criticized the current cryptocurrency regulatory environment, stating that it is "not conducive to financial innovation."