US Fed to create new crypto workforce amid issues about unregulated stablecoins

The US Federal Reserve is about to create a “specialised workforce of specialists” to maintain up with developments within the cryptocurrency business, in accordance with a Fed official, amid issues from the central financial institution about “unregulated” stablecoins.

Talking on the Peterson Institute for Worldwide Economics in Washington on March 9, Vice Chair for Supervision Michael Barr admitted that crypto may have a “transformative impact” on the monetary system however added that “the advantages of innovation can solely be realized if acceptable guardrails are in place.”

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