The Fed Chairman shares his views on adjusting the cryptocurrency sector, especially stablecoins:

Although the crypto field has gone through many failures and frauds, becoming the focus of the press and raising concerns about risks to the financial system, there are now signs that the political climate is changing, with increasing interest from both the Senate and the House of Representatives in building a legal framework for stablecoins. The Fed Chairman noted that this is a positive and necessary step, as stablecoins are a digital product with the potential for widespread application, but there also need to be measures to protect consumers and ensure transparency.

The Fed and other banking regulatory agencies have previously maintained a rather conservative stance on issuing guidance and regulations related to crypto and banks participating in this sector, but in the near future, there may be some certain easing, though in a way that still ensures safety and soundness for the banking system, avoids risks for consumers, while also promoting responsible innovation in the digital finance sector.

Video 👇

https://x.com/ThuanCapital/status/1912596439085240784