NEW YORK, Nov 12 (Reuters) – Federal Reserve Governor Christopher Waller stated Tuesday stablecoins are successfully “synthetic” {dollars} that may bring benefits to the financial system.
Waller stated these digital property linked to the greenback “could have a lot of potential benefits” and “eliminate” inefficiencies within the financial system, as a part of feedback earlier than The Clearing House Annual Conference 2024, held in New York. But he stated laws is required to take care of questions of safety as these kind of property are topic to runs that could destabilize the financial system.
