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.
Fed’s Waller Disagrees That Stablecoins Need to Be Regulated With Full Banking Regulation
Federal Reserve Board Governor Christopher Waller talked about stablecoin regulation Wednesday during a virtual conference organized by the Cleveland Fed.
While emphasizing that “The regulatory and supervisory framework for payment stablecoins should address the specific risks that these arrangements pose — directly, fully, and narrowly,” he noted:
It does not necessarily mean imposing