Federal Reserve official: Stablecoin progress is ‘exponential,’ deserves ‘consideration’

Whereas a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked on the concept of regulation and oversight, the central financial institution may merely be pondering the long run.

In a presentation titled “Monetary Stability,” Rosengren recognized the stablecoin Tether by identify as part of three completely different “Monetary Stability Challenges.” The challenges included dangers to the housing market, the necessity for emergency lending amenities in occasions of crises, and “periodic disruptions to short-term credit score markets,” the place Tether was famous as one doable disruptor.

Supply: bostonfed.org