Federal Reserve Chairman Advocates for Legislative Framework on Stablecoins and CBDCs

Jerome Powell, the Chairman of the Federal Reserve, recently engaged in discussions with House Democrats to underscore the importance of establishing a legislative framework for stablecoins.



"In the pursuit of a regulatory foundation for stablecoins, I am highly supportive and pleased with our progress," Powell expressed during a private session with the House Financial Services Committee.



This interaction with legislators highlights the Federal Reserve's dedication to implementing stringent regulations for stablecoins and Central Bank Digital Currencies (CBDCs).



Powell pointed out the necessity for congressional approval for the introduction of a CBDC, as reported by Politico, emphasizing the importance of such authorization.



The subject of stablecoins and their regulation by the Federal Reserve was also a key topic in a


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