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Fed's Barr: Brief Remarks on Stablecoins
Thank you for the opportunity to be part of this discussion. Last year, Congress passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which provides some needed clarity to issuers of stablecoins about how they can fit into the regulatory framework. While there is a lot of work to do by the relevant agencies to fill in the specifics during the rulemaking process, increased regulatory certainty could lead to more rapid development of stablecoins. Today, stablecoins are mostly used to facilitate crypto-trading activities and, secondarily, as a dollar-denominated store of value in ... (full story)
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