Federal Reserve's Barr Throws Down The Gauntlet: Stablecoins Need Federal Regulation

Grand News Network | November 7, 2023

Amid the ongoing debates in U.S. House of Representatives concerning the oversight of stablecoin issuers, Federal Reserve Vice Chairman for Supervision Michael Barr has made his stance clear: federal regulation is necessary.

Barr's comments emerge as a critical voice in a debate that sees a partisan split, with Republican legislators advocating for state-level supervision and Democrats, along with Barr, pushing for control by the Federal Reserve, Coindesk reported.

Barr's remarks coincide with increasing discussions on cryptocurrency regulation, an issue that is sure to be a focal point at Benzinga's Future of Digital Assets conference on Nov. 14. As industry stakeholders convene to discuss the evolving digital landscape, the regulatory framework remains a hot topic.

"We need a strong federal ...

Full story available on Benzinga.com

Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.

Disclaimer Press Release Banner