Federal Reserve Governor Christopher Waller publicly stated at the Jackson Hole seminar that digital assets and blockchain technology are 'nothing to be afraid of.' This marks the second time this week that senior Federal Reserve officials have expressed support for crypto innovation.
Waller pointed out that the Federal Reserve is actively researching the application prospects of smart contracts, tokenization, and distributed ledgers, emphasizing that regulators should not blindly reject digital asset technologies but should maintain an open attitude. His remarks resonate with the prior positive statements from Federal Reserve Vice Chair Bowman, signaling a potential significant turning point in the U.S. regulatory environment.
Notably, Waller, who was appointed by the Trump administration as a Federal Reserve Governor, is very likely to be a key candidate for the next Fed chair. His statement not only injects a positive signal into the crypto industry but also signifies a shift within the Federal Reserve's internal attitude towards digital assets from cautious to proactive.
Behind the Federal Reserve's shift in attitude is a heightened awareness of global central bank digital currency competition. Both China and the European Central Bank are accelerating their digital currency initiatives. If the U.S. continues to take a wait-and-see approach, it will lose its dominant position in financial technology competition. Furthermore, the widespread use of dollar-backed stablecoins has indeed reinforced dollar hegemony, and appropriate regulatory support will actually benefit U.S. interests.
Although specific policies still need to be implemented, the rare support from senior Federal Reserve officials has injected a strong dose of confidence into the U.S. crypto market, providing important guidance for future policy formulation.
