#PowellRemarks
✅🇺🇲💯Jerome Powell "we need a legal framework for stablecoins"✅
The Chairman of the U.S. Federal Reserve, Jerome Powell, expressed support for creating a legal framework for stablecoins, calling it a "good idea" against the backdrop of the growing prevalence of digital assets.
During a panel discussion at the Economic Club of Chicago on April 16, Powell commented on the evolution of the crypto industry, which, according to him, has offered a consumer use case that "can have broad appeal" after a complicated "wave of failures and frauds."
"Stablecoins are a digital product that can have really broad appeal and should contain consumer protection mechanisms," Powell noted.
