Fed Governor Bowman: States and the federal government need to cooperate in the field of stablecoins

Federal Reserve Governor Michelle Bowman urged states and the federal government to form a partnership to jointly regulate stablecoins while lawmakers are working on related bills. Asked what role states and the federal government should play in addressing stablecoins at the Chamber of Digital Commerce's DC Blockchain Summit on Wednesday, Bowman said states are more willing to discuss the expansion of this area, "The important point for me is to establish a partnership." "The U.S. currency is accompanied by risks such as runs, which may require us to provide protection for the dollar. Therefore, from the Fed's perspective, it is important that we have the ability to participate and negotiate with any framework that ultimately emerges, whether it is the current bill or other frameworks that emerge as stablecoins develop in the United States, the Fed should have a seat at the table in the negotiation process." (The Block)