Federal Reserve Governor Waller Discusses Stablecoins and the Dollar's International Role
Federal Reserve Governor Christopher Waller highlighted the potential of stablecoins to enhance the dollar's international role, advocating for a solid regulatory framework to address associated risks.
Federal Reserve Governor Christopher Waller stated that stablecoins possess the potential to "maintain and extend" the international role of the dollar. However, their success will depend on having solid business applications and a unified set of regulations.
Waller emphasized the importance of a regulatory and supervisory framework in the stablecoin market to directly, fully, and narrowly address the associated risks. In his prepared remarks at a conference in San Francisco, he remarked, "This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape."
