Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking R

charlielee

2022-10-27 07:23:55

Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers need to be banks. See more for yourself here.

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dianasmith

2022-10-27 08:59:03

The rules for stable coins are indeed very difficult because I believe that stable coins like USDT were originally meant to be created in the cryptocurrency community, if now there must be new rules that are the same as conventional bank rules, it will be very difficult.
I am sure that this will also have an unsuitable effect for the development of stable coins if they have to comply with bank rules, all the cryptocurrency community also knows that cryptocurrencies and banks cannot be united and can only pass each other because they are hindered by rules.

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Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking R

charlielee

dianasmith