Federal Reserve Meeting Minutes: Stablecoins May Drive Increased Demand for U.S. Treasuries, Raising Concerns

According to Hash Chain News, the Federal Reserve's July meeting minutes indicated that the use of payment stablecoins may increase due to the passage of the 'Genius Act,' necessitating attention to their impact on the financial system. Participants expressed concerns that this could broadly affect banks and monetary policy, with demand for the supporting assets behind stablecoins (such as U.S. Treasuries) potentially increasing, thus emphasizing the need for asset monitoring.