US Fed Explores Digital Assets Amidst Independence Challenges
The US Federal Reserve will host a conference on October 21st to discuss stablecoins and financial product tokenization, signaling a move towards innovating payment systems. Governor Christopher Waller emphasized the importance of innovation in meeting consumer and business needs.
This focus on stablecoins follows the July passage of the GENIUS Act, which requires regulatory frameworks from the US Treasury and Federal Reserve. This development is seen as a positive step for clearer guidelines and institutional adoption within the crypto space.
However, the Fed faces scrutiny over its independence, highlighted by concerns about potential political interference in leadership appointments. This situation could introduce monetary policy uncertainty and affect regulatory bodies overseeing digital assets.