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all right now advising yes red means its hot foreign foreign [Music] foreign [Music] foreign [Music] tonight [Music] [Music] foreign [Music] foreign thank you foreign you know good morning welcome you to the first meeting on stable coins well have our hearing today entitled understanding stable coins role in the payments and the need for legislation without objection the chair is authorized to declare a recess of the committee at any time without objection all members will have five legislative days within which to submit extraneous materials to the chair for inclusion in the record I want to thank our Witnesses for all being here today and Id now recognize myself for four minutes to give an opening comment todays hearing marks the official resumption of the house Financial Services committee efforts to enact payment stable coin legislation last Congress Democrats and Republicans work together on a proposal to bring about payment stable coin issuers under a regulatory framework in