US EditionFed's Waller says stablecoins bring benefits to US payments system
- A key U.S. House committee advanced the STABLE Act, which aims to regulate payment stablecoins and establish who can issue them.
- Concerns arise from watchdogs that interest-paying stablecoins might draw funds away from regulated banks, impacting the banking system.
- Congress members are divided on whether stablecoins should earn interest, as several lawmakers remain open to provisions allowing it.
- Democrats voiced fears about the influence of the Trump family in cryptocurrency legislation, citing potential conflicts of interest.
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Fed's Waller says stablecoins bring benefits to US payments system
Federal Reserve Governor Christopher Waller said on Friday that stablecoins are a good thing for the U.S. payments system, but he doubts the financial system can support a large number of these assets. "I'll say I'm a personal, big advocate of stablecoins," Waller said at a New York Fed event. "I have b
·Singapore
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House committee approves regulatory bill for stablecoin | Northwest Arkansas Democrat-Gazette
WASHINGTON -- A key U.S. House of Representatives committee advanced legislation on Wednesday establishing a regulatory framework for certain digital assets in hopes of finally setting a nationwide standard for the industry.
·Arkansas, United States
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