Federal Reserve Chair Jerome Powell emphasized the necessity of stablecoin legislation in closed meetings with House Democrats. Negotiations on the legislation are reported to be nearing completion. Discussions also touched on the potential creation of a central bank digital currency (CBDC) to compete with stablecoins.
It is time for Congress to pass stablecoin legislation. Fed Reserve Gov. Waller reiterated why yesterday: "So it is likely that any expansion of trading in the DeFi world will simply strengthen the dominant role of the dollar." Full speech here: https://t.co/pfdt7M5XnI https://t.co/QoaweQWHV3
Leaked comments from a closed-door meeting between Jerome Powell and Democrats revealed discussions on the creation of a central bank digital currency (CBDC). Their first step is to convince Congress to draft a bill on stablecoins (their direct competitor). https://t.co/6ToQeVzVDD
#FederalReserve Chairman Jerome Powell briefs Congress members regarding the Fed's central bank digital currency (#CBDC) progress. https://t.co/IqLidyN1rD
.@federalreserve Chair Jerome Powell told a closed meeting of Democrats from the @FSCDems that negotiations are "close" on stablecoin legislation, @Politco reports. https://t.co/JrzNOZPLEJ
Federal Reserve Chairman Jerome Powell addressed House Democrats regarding the necessity of a legislative framework for stablecoins https://t.co/MsvdJQ8PJS
Powell has told House Democrats a stablecoin bill needed, per Politico.
.@federalreserve Chair Jerome Powell told a closed meeting of Democrats from the @FSCDems that negotiations are "close" on stablecoin legislation, Politco reported. By @sheldonreback https://t.co/W6GBAKz4Q4
⚠️ POWELL TOLD HOUSE DEMOCRATS STABLECOIN BILL NEEDED: POLITICO
🔴 FED'S POWELL TOLD HOUSE DEMOCRATS THAT A STABLECOIN BILL NEEDED - POLITICO.