Fed Governor Christopher Waller believes that there should be a structure that allows banks and non-banks to release regulated stabelin.
According to Bloomberg recently ReportWaller said stabechoin has the ability to expand the US dollar reach on the international scale. However, the scale of stablecoins and utility will depend on a clear set of rules.
At a conference in San Francisco, Waller said the Stabelcoin market requires a regulatory framework that involves “straight, completely, and narrowly involved” stabechoin risks before being able to release financial institutions, which includes financial institutions. Is.
“This structure should allow both non-banks and banks to release regulated stabblecoin and consider the effects of regulation on the payment landscape,” Waller said.
StableCoins are digital currencies known for their stable value because they are usually judged for fiat currencies, usually the US dollar or treasury bill. The market cap, USDT (USDT) and USDC (USDC) are judged by two of the two largest stabecrims, both are judged in the US dollars.
Wallar’s comment was echoed by Federal Reserve President Jerome Powell in February last year. Powell expressed full support for the construction of a Stabelcoin Framework in a meeting with the House Financial Services Committee, which reiterates Fed’s commitment to develop Stabecin and Central Bank Digital currencies in the US.
Recently, Rape Maxin Waters, Ranking Democrat, on the House Financial Services Committee, made a proposal for Stabelcoin oversight, including the Office of the Currency Comptroller Office, Federal Deposit Insurance Corporation and Federal Reserve.
Earlier this month, the House Financial Services Committee, the Republican Chair of the French Hill, presented a draft bill for the stabeloin regulation co-propelled by Rape Brian Still. Unlike the proposal of water, the bill of the hill gives Stabelcoin oversight to OCC instead of Federal Reserve.
This means that both Republican and Democratic MPs have introduced Stabecrim rules under the Trump administration.
