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The Fed Is the Wrong Regulator for Stablecoins

The U.S. central bank would be conflicted overseeing stablecoins, because they compete with the Fed's payments infrastructure and with potential CBDCs.

By Jennifer J. Schulp, Jack Solowey

Updated Oct 23, 2024, 3:51 p.m. Published Oct 23, 2024, 3:48 p.m.

WASHINGTON, DC - SEPTEMBER 17: A statue of an eagle is seen on the Federal Reserve building on September 17, 2024 in Washington, DC. Federal Reserve Chairman Jerome Powell will hold a news conference tomorrow and make an announcement pertaining to interest rates. (Photo by Anna Moneymaker/Getty Images) — (Anna Moneymaker/Getty Images)