In a recent public speech, Kyle Hauptman, the Deputy Chair of the National Credit Union Administration (NCUA), gave positive remarks about cryptocurrencies and stablecoins, emphasizing the importance of innovation to the development of credit unions. Hauptman noted that while new technologies may bring negative impacts, they are also necessary factors driving social progress. He cited the invention of cars as an example, illustrating that although new technology can cause problems, it also brings significant changes. Hauptman further stressed that just because cryptocurrencies might be associated with illegal activities in some people's eyes, it does not mean that cash is not widely used illegally. He particularly praised stablecoins, believing they could significantly improve the existing payment system in the US, especially in international payments. Hauptman's goal is to ensure that credit unions remain competitive and continue to evolve, avoiding obsolescence, as seen in past cases where traditional companies like Blockbuster failed to adapt to market changes and were eventually phased out.