According to BlockBeats news on August 21, the Federal Reserve released the minutes of the July meeting, which mentioned that many participants discussed recent and future developments related to payment stablecoins and their potential impact on the financial system. These participants pointed out that with the recent passage of the (GENIUS Act) (U.S. Stablecoin Innovation and Protection Act), the use of payment stablecoins may increase.
They indicated that payment stablecoins help improve the efficiency of payment systems and also observed that such stablecoins may increase the demand for the underlying assets (including U.S. Treasury bonds).
In addition, the participants who expressed opinions also expressed concerns that stablecoins could have broader implications for banks, the financial system, and the implementation of monetary policy, making it worthy of close attention, including monitoring the various assets used to support stablecoins. (Jin Ten)