Fed Board Member Christoper Waller discussed proposals for stablecoin regulations in his speech.
Waller responded to the report of the President’s Working Group led by the Treasury. Waller explained the main purpose of the report on stablecoins.
Waller does not object to the idea of banks issuing stablecoins. According to him, the main problem is to restrict issuance to banks and ultimately cause a decrease in payment efficiency.
The discussions about stablecoins continue to increase. Its overall market capitalization has increased by a factor of five, and US-based issuers see more transparent space before them.