According to JeromePowell, stablecoins are a form of money. What else did the federalreserve Chairman say? Read more here -
“We do see payments stablecoins as a form of money,” Powell said on Wednesday. The chairman added that central banks remain the ultimate source of credibility on money and that there should be a robust federal role it has to play in the industry.Though a CBDC is still on the table for the Federal Reserve, Powell said it wouldn’t consider creating one issued directly by the central bank.
“We would not support accounts at the Federal Reserve by individuals,” he said, citing privacy concerns. “At some point in the future, a CBDC would be one that was intermediated through the banking system and not directly at the Fed.”
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