Federal Reserve chairman supports legal framework for stablecoins. Learn about the importance of regulations for digital assets and consumer protection.
Jerome Powell, the chairman of the Federal Reserve of America, announced on April 16 at the Economic Club of Chicago that creating a legal framework for stablecoins is a good idea with the increasing acceptance of digital assets. Powell stated, ‘Stablecoins are digital products that can have broad appeal and should include consumer protections.’ He mentioned that the landscape is changing and as this sector enters the mainstream, Congress is again looking into a legal framework for stablecoins. These statements come as the Trump administration has placed a high priority on comprehensive stablecoin legislation.
