Member of the U.S. Federal Reserve’s Board of Governors, Lael Brainard, made a speech on ‘˜Digital Currencies, Stablecoins, and the Evolving Payments Landscape’. She discussed the issues highlighted in relation to stablecoins, the viability of Central Bank Digital Currencies, the work of the Federal Reserve in supporting payments innovation.

She concluded that global stablecoin networks should be expected to meet a high threshold of legal and regulatory safeguards before launching operations. She added that the Federal Reserve will continue to monitor new technologies closely to ensure that the innovations that arise fit with their operational responsibilities and broader public policy goals, as reflected in the Federal Reserve Act.

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