US Federal Reserve Looking to Hire a Manager to Research Stablecoins and CBDCs.

[Malam90]

The job listing follows comments made by Fed Chair Jerome Powell in recent weeks where he said the central bank needed “better regulatory answers” for global stablecoins.
The U.S. Federal Reserve is looking for a manager of digital innovations who will assess the pros and cons of stablecoins and central bank digital currencies.

In a LinkedIn job posting, the Fed said that the prime candidate would be looking into the impact of digital innovations on its “operation and oversight of financial services, and the supervisory and regulatory framework of emerging payments platforms, activities and institutions.”
The job posting follows comments earlier in January by Fed Chairman Jerome Powell at a Princeton University event where he said that the Fed would focus on “better regulatory answers” for global stablecoins.
At the end of last year, then-President Trump’s Working Group on Financial Markets released a report that said stablecoins should meet the same regulatory standards as other aspects of the financial system.
At the Princeton event, Powell also said that Fed wasn’t concerned with being first in the CBDC race. The chairman added that the dollar’s status as the world reserve currency already gave it a “first-mover advantage.”  Source Link

[Malam90]

I think it's a good decision by The U.S. Federal Reserve to hire a manager who will look into the stable coin's functions because there are a lot of rumors that most of the stable coins don't have reserve funds but they claim. So, i think after this, manager can look it and audit on stablecoins' pros and cons.

[Fenix]

I think it's a good decision by The U.S. Federal Reserve to hire a manager who will look into the stable coin's functions because there are a lot of rumors that most of the stable coins don't have reserve funds but they claim. So, i think after this, manager can look it and audit on stablecoins' pros and cons.

However, most states have been doing this for a long time. The US government has previously had little interest in cryptocurrency and its capabilities. If China and some other states had not prepared their digitized currencies for the release with such enthusiasm, the United States would have done nothing further.

[Arkann]

I think it's a good decision by The U.S. Federal Reserve to hire a manager who will look into the stable coin's functions because there are a lot of rumors that most of the stable coins don't have reserve funds but they claim. So, i think after this, manager can look it and audit on stablecoins' pros and cons.

However, most states have been doing this for a long time. The US government has previously had little interest in cryptocurrency and its capabilities. If China and some other states had not prepared their digitized currencies for the release with such enthusiasm, the United States would have done nothing further.

In any case, these actions of the US government can play a good role in convincing cryptocurrency users of the reliability of stablecoins. Although USDT is in high demand in the market today, having more confidence would not hurt.