\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n
\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n
\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n
\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n
\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n
\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n
