U.S. Federal Reserve Chair Jerome Powell said it would consult the public about a potential central bank digital currency (CBDC) in the summer. He acknowledged both the benefits and risks of stablecoins, hinting that new regulations are coming.
Given the growth in US-based stablecoin USDC from $2.9 billion to $18.7 billion in just six months, and the soon-to-be-released Diem (formerly Libra) dollar stablecoin, that’s no surprise.
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