Federal Reserve leaders highlight the necessity of stablecoin regulation, particularly for USD-backed coins such as USDT and USDC. Officials assert that establishing clear validation standards is crucial for the market.
Prominent figures involved in these discussions include Patrick T. Harker, Michael S. Barr, and Christopher J. Waller. Past downturns, notably the UST/Luna collapse, underline the urgency for regulatory clarity.
A future regulatory framework is anticipated to impact both bank-issued and non-bank stablecoins, reflecting the evolving role of stablecoins in financial ecosystems. Stakeholders remain cautious, considering potential regulations.
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