According to CoinWorld.com, Brad Sherman criticized a proposal to distribute government payments via stablecoins at a congressional hearing, warning that such a system could support tax evasion. He stated that the risks of using stablecoins for government payments outweigh any potential benefits. Sherman's criticism came after Kyle Hauptmann, chairman of the National Credit Union Administration, suggested that stablecoins could improve the speed of government payments. Hauptmann told lawmakers that dollar-pegged tokens operate 24/7, allowing tax refunds and emergency payments to reach recipients outside of traditional bank hours. Sherman also expressed concerns about yield-bearing stablecoins, stating that legal professionals are already exploring ways to circumvent interest payment restrictions and urging regulators to develop rules that can prevent such outcomes.