Fed's Barr: Stablecoin Regulation Needs to Be Strengthened to Prevent Systemic Risks
According to ChainCatcher, as reported by Golden Ten Data, Federal Reserve Governor Barr stated that more specific regulatory measures are needed to ensure the safe operation of stablecoins. He pointed out that in order for stablecoins to fully realize their potential, further safeguards must be established to protect households, businesses, and the entire financial system. Barr welcomed the "Genius Act," which establishes a regulatory framework for stablecoins, but emphasized that regulators still need to address legal loopholes to enhance market confidence in stablecoins.
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