PANews reported on October 30 that according to The Block, a week before the US election, Paxos CEO Charles Cascarilla urged US presidential candidates Harris and Trump to establish a more friendly regulatory atmosphere for digital assets and establish a regulatory framework for stablecoins. Cascarilla said in a letter to the two candidates on Tuesday: "As the CEO and co-founder of Paxos, one of the leading companies in tokenization and blockchain infrastructure, I urge you to implement a more welcoming and clearer regulatory environment for digital assets." Cascarilla also warned that if the next administration fails to follow through, the future of financial industry regulation may be at risk. He also criticized the current cryptocurrency regulatory environment, calling it "unsuitable for financial innovation."