Federal Reserve Official Praises Blockchain Tech, Stablecoins, and Asset Tokenization in Crypto-Friendly Address
Federal Reserve Governor Christopher Waller recently spoke at the Wyoming Blockchain Symposium, emphasizing the technological revolution within the payment system. He highlighted the potential of stablecoins in extending the role of the dollar internationally and improving retail and cross-border payments. Waller stressed the importance of innovation to keep up with technological advancements, dismissing fears about decentralized finance (DeFi) and endorsing the use of smart contracts, tokenization, and distributed ledgers.
He also expressed support for the GENIUS stablecoin bill, calling it a significant step for the stablecoin market. Waller's speech indicates a shift in the central bank's stance towards cryptocurrencies and revealed ongoing research on asset tokenization and AI to support firms leveraging banking infrastructure.