Fed’s Waller Says Scale of Stablecoins Rests on Harmonized Rules
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Federal Reserve Governor Christopher Waller said stablecoins have the potential to “maintain and extend” the international role of the dollar, though their rise or fall will depend on solid business use cases and a harmonized set of rules.
“The stablecoin market would benefit from a US regulatory and supervisory framework that addresses stablecoin risks directly, fully and narrowly,” Waller said in prepared remarks for a conference in San Francisco. “This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape.”