The Block Crypto News12 minutes ago

Published on May 15, 2024 21:38 GMT+00:00edited on May 15, 2024 21:39 GMT+00:00

Federal Reserve Governor Michelle Bowman urged states and the federal government to form a partnership to regulate stablecoins as lawmakers hammer out bills to do so. 

Bowman was asked on Wednesday at the Chamber of Digital Commerce's DC Blockchain Summit about what roles states and the federal government should take to address stablecoins. The Republican top Fed official said there is more of an "openness at the state level to have conversations about this expansion into the space."

"The important part to me is that there's a partnership," Bowman said. 

"U.S. currency brings with it risks of runs and other types of risks that may require protections that we provide to the U.S. dollar," Bowman said. "So it's important that from the Federal Reserve's perspective that we have …