The Federal Reserve Governor calls for an organizational framework to allow banks and institutions to issue Stablecoins
A member of the US Federal Reserve Council calls for laws that would allow banks and institutions to issue digital dollar assets.
In a letter delivered by Christopher J. Waller at a recent conference in San Francisco, the ruler of the Federal Reserve Argue For a regulatory framework that would allow financial institutions for the blue slide to issue the regulating Stablecoins.
According to Waller, Stablecoins can be very useful for the financial system because it has many cases such as expanding access to US dollars, easy -to -limit payments and retail selling payments.
“The first topic that I will explore is the topic I discussed in the past – the safety and safety of Stablecoins and the need for a clear organizational system for Stablecoins in the United States …
This framework should allow both banks and banks to issue a organization that is organized and must consider the effects of the organization on the scene of payments, including competing payment tools. “
However, Waller says that there are possible risks associated with Stablecoins, including the possibility of getting rid of the coin they are associated with.
“Stablecoins are forms of private money, like any form of private money, subject to risks, and we saw” De-Pegs “for some Stablecoins in recent years. In addition, all payment systems have faces failure, and Stablecoins are under clearance, settlement and other payment risk risks also. ”
Earlier this month, Republican Senator Bill Hajariti of Tennessee’s state of genius law, a draft law to regulate and identify Stablecoins as well as establishing licensing requirements and reserves for exporters.
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