Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking R

[sirty143]

Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking Regulation

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.

Your opinion is greatly appreciated.

[jonathancool220]

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.

[damsix]

I will assume that Federal Reserve Board Governor Christopher Waller understands very well how cryptocurrencies work which are very difficult to trace if they have to deal with Monero coins and of course also stable coins cannot be regulated by various financial institutions, banks and even the President's working group. .
Or maybe Federal Reserve Board Governor Christopher Waller owns a variety of cryptocurrencies so that he is able to understand what has happened so far in the Centralized Exchange (CEX) and Decentralized Exchange (DEX) markets so that everything is also easier to understand than they are the President's working group.