US Fed to create new crypto team amid concerns about unregulated stablecoins

The United States Federal Reserve is set to create a “specialized team of experts” to keep up with developments in the cryptocurrency industry, according to a Fed official, amid concerns from the central bank about “unregulated” stablecoins.

Speaking at the Peterson Institute for International Economics in Washington on March 9, Vice Chair for Supervision Michael Barr admitted that crypto could have a “transformative effect” on the financial system but added that “the benefits of innovation can only be realized if appropriate guardrails are in place.”


Leave a Reply

Your email address will not be published. Required fields are marked *