Trump's Working Group on Financial Markets (PWG) released a statement yesterday to outline the regulatory and supervisory developments on stablecoins. Members of the PWG including Treasury Deputy Secretary, Justin Muzinich welcomed further discussions on the regulatory framework for stablecoins.

According to an official press release by the US Treasury Department, the PWG members recognized the potential of cryptocurrencies to enhance the efficiency of the overall payments system. Additionally, the Group mentioned the importance of a clear regulatory framework for digital assets to maintain the stability of financial and monetary systems.

Commenting on the recent announcement, Justin Muzinich said: "The statement reflects a commitment to both promote the important benefits of innovation and to achieve critical objectives related to national security and financial stability.