Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»State and Federal Governments Must Collaborate on Stablecoins: Fed Governor Bowman
ADOPTION NEWS

State and Federal Governments Must Collaborate on Stablecoins: Fed Governor Bowman

By Crypto FlexsMay 16, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
State and Federal Governments Must Collaborate on Stablecoins: Fed Governor Bowman
Share
Facebook Twitter LinkedIn Pinterest Email

Federal Reserve President Michelle Bowman called on states and the federal government to partner to regulate stablecoins as lawmakers draft legislation.

Bauman was asked a question. Wednesday at the Digital Chamber’s DC Blockchain Summit.Explains what role state and federal governments should play in solving the stablecoin problem. “There is greater openness at the state level to have conversations about expanding this space,” a senior Republican Fed official said.

“The important part for me is that there is a partnership,” Bowman said.

“The U.S. currency carries execution risk and other types of risks that may require the protections we provide for the U.S. dollar,” Bowman said. “So, from the Fed’s perspective, it’s important that we have the ability to input and collaborate on whatever framework looks like as the potential to create stablecoins in the U.S. moves, whether it’s one of the current bills. Going forward, it’s important that the Fed has the ability to input and collaborate on what’s on the table. It will take its place.”

legislation in progress

Bowman did not mention specific legislation, but lawmakers including: House Financial Services Committee Chairman Patrick McHenry, R-N.C., and Rep. Maxine Waters, D-Calif., have been working on stablecoin legislation for nearly two years.

One problem with the bill was who would be the primary regulator of stablecoin issuers: the federal government or state regulators. Last summer, Waters called stablecoin legislation “a serious problem.” supply This allows state regulators to approve stablecoin issuance without input from the Federal Reserve. that unclear Has it been resolved?

Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced the bill. april It has provisions creating a “federal and state regulatory framework for stablecoin issuers that preserves the dual banking system.” Specifically, the bill creates a cap that would allow “national trust companies to create and issue payment stablecoins up to $10 billion.”

Gillibrand said Wednesday that he would like to get a vote on the stablecoin bill.

“We haven’t been able to get a hearing or a markup or even a debate in a committee of jurisdiction,” Gillibrand said on a separate panel at the DC Blockchain Summit. “So it was a bit frustrating because we had to do that.”

She added that while the two have been working well with the Treasury and the Federal Reserve, “no one in the White House is necessarily focused on this issue.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025
Most Popular

Vitalik Buterin Moves Around 1.3 Million STRK: Altcoins React

September 5, 2024

KZG Awards Grant Round | Ethereum Foundation Blog

December 11, 2023

Security Warning: Avoid using dApps due to Ledger Connectkit hack

December 14, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.