Editor's PiCK
Chair Powell: "Stablecoins are coming closer to the mainstream financial system"
JH Kim
Summary
- "Fed Chair Jerome Powell assessed that the stablecoin industry is getting closer to the mainstream financial system."
- "Powell mentioned that despite the risks of stablecoins, their utility and market size are growing."
- "He noted that regulatory authorities are closely monitoring the situation to develop related policies."
According to the economic news account Walter Bloomberg on the 25th (local time), Jerome Powell, Chair of the Fed, stated that "the stablecoin industry has rapidly matured over the past few years and is increasingly approaching the existing mainstream financial system."
He added, "While there are still certain risks associated with stablecoins, their utility and market size continue to grow steadily," and "regulatory authorities are carefully monitoring the situation to develop relevant policies."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
