US Federal Reserve Governor Christopher Waller has said that stablecoins have the potential to expand the influence of the US dollar.
He has also stressed the need for a regulatory framework that allows banks to issue digital currencies pegged to the dollar.
During a conference in San Francisco on February 12, Waller described stablecoins as a significant innovation within the cryptocurrency space, with the promise of improving both retail and international payments.
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He noted the stablecoin market has evolved and would benefit from a US regulatory framework specifically aimed at managing stablecoin risks.
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Waller proposed that both banks and non-banks could issue stablecoins.