Federal Reserve Vice Chair: ‘We Do Not Need to Fear Stablecoins’

<p><span style="font-weight: 400;">On this episode of “The Breakdown,” NLW analyzes a stablecoin-focused speech from Randal Quarles, vice chair of the Federal Reserve, starting with a primer on developing trends related to the topic, including:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">CBDC discussion, investigation and development across global powers</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The ability of stablecoins to make a U.S. CBDC redundant </span></li> </ul> <p><span style="font-weight: 400;">The conversation around central bank digital currencies (CBDCs) is growing louder. In China, the digital yuan continues to roll out through lottery tests and, more recently, for use in the Beijing subway. Today, the European Central Bank announced a new two-year “investigation” period during which the ECB will prepare for a larger digital euro design phase with user consultation, regulatory discussions and market analysis. </span></p> <p><span style="font-weight: 400;">Still, NLW argues that we can’t view the rise of public CBDC discussions in the absence of the growing adoption of private stablecoins. While these private, fiat-pegged stablecoins seem increasingly in the regulatory crosshairs, Federal Reserve Vice Chair Randal Quarles recently argued the U.S. central bank and policy makers shouldn’t fear them – and that, indeed, when regulated properly, stablecoins might make the need for a CBDC redundant.</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">--</div> <div>Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb</div> <div>Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ</div> <div>Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=</div> <div> </div> <div>Follow on Twitter:</div> <div>NLW: https://twitter.com/nlw</div> <div>B