Federal Reserve's Barr: Strengthen Stablecoin Regulation to Prevent Systemic Risks

ChainCatcher news, according to Jinshi reports, Federal Reserve Governor Barr stated that more specific regulatory measures need to be developed to ensure the safe operation of stablecoins. He pointed out that to fully realize the potential of stablecoins, further protective mechanisms need to be established to safeguard households, businesses, and the entire financial system. Barr welcomed the "Genius Act," which establishes a regulatory framework for stablecoins, but he emphasized that regulatory agencies still need to address legal loopholes to enhance market confidence in stablecoins.