Christopher Waller, a member of the Board of Governors of the US Federal Reserve System, proposed developing regulatory rules allowing banks to issue stablecoins pegged to the US dollar. He made this statement during a conference in San Francisco, stressing that such digital assets can be considered as «synthetic dollars», similar to the money of commercial banks.

According to Waller, the introduction of regulated stablecoins can significantly speed up payments, especially in international settlements, as well as reduce transaction costs. He noted that stable digital assets can expand access to the US dollar, which is especially important for countries with high inflation. Thus, stablecoins can help strengthen the position of the US currency in the global economy.

The Fed’s top manager is confident that the opportunity to issue such assets should be provided not only to traditional banks, but also to non-bank credit institutions. He expressed confidence that the private sector is able to independently develop effective and useful solutions in this area, creating innovative financial instruments that will be convenient for both businesses and ordinary consumers.

«I believe in the capabilities of private companies that can offer innovative solutions to the market. The private sector is actively looking for ways to integrate stablecoins into the retail payment system. In turn, the public sector must create fair and transparent conditions for all market participants,» Waller said.

Interestingly, back in the fall of 2024, Christopher Waller said that the traditional banking system does not feel an urgent need to accelerate cross-border payments. In his opinion, the speed of clearing and settlements in modern banking systems already meets the requirements of the market. However, his latest statement indicates a possible revision of this position and recognition of the potential of stablecoins in optimizing financial processes.

Waller’s initiative highlights the increasing role of digital assets in the global financial system and the need to regulate them. Developing clear rules for issuing stablecoins can not only strengthen trust in these instruments, but also promote their widespread adoption, potentially changing the landscape of international payments and financial services.

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