Government Stablecoin Payments Would Fuel 'Tax Evasion Economy,' Lawmaker Warns

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Representative Brad Sherman warns that government stablecoin payments would fuel a "tax evasion economy" by allowing individuals to evade taxes and hide assets. He claims it would "sanctify an alternative to the U.S. dollar," undermining its dominance. This stance could impact the widespread adoption of stablecoins in government transactions, potentially limiting their growth in the market.