Don’t kill stablecoins by over-regulating them – Fed’s Waller

- By Thomas Chow
- 01 Jun 2026

Stablecoins backed by dollars can promote competition in the bank-dominated payment system while expanding US monetary sovereignty, a member of the Federal Reserve’s board of governors has said.

In a panel hosted by the Croatian National Bank (HNB) on May 31, Christopher Waller argued that stablecoins’ main purpose was to serve as a medium of exchange.

“It’s just a payment instrument,” he said. “There’s nothing evil about it. There’s nothing dangerous about it.”

Waller described stablecoins as

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