Federal Reserve member emphasizes need for legal framework for stablecoin issuance by banks and non-bank institutions
Christopher Waller, a board member of the Federal Reserve, stated that a legal framework should be established for issuing stablecoins by banks and non-bank institutions. Waller emphasized in a San Francisco conference reported by Bloomberg that stablecoins have the potential to expand the international influence of the US dollar, but their success depends on transparent regulations. These remarks come as representatives from both the Democratic and Republican parties in the US Congress have presented separate legislative drafts to oversee stablecoins, indicating the increasing importance of this area.
