FED Chair Jerome Powell stated that stablecoins are a form of money with the potential for broad appeal and that a legal framework which includes consumer protections and transparency along with robust federal oversight is needed as digital assets gain mainstream adoption

Event date

Apr 16, 2025 - 12:00am

Quotes that support claims

“Stablecoins are a digital product that could actually have fairly wide appeal and should contain consumer protections,” Powell said.

He emphasized that such a framework should include consumer protections and ensure transparency and added that “stablecoins are a digital product that could actually have fairly wide appeal.”

This isn’t the first time Powell acknowledged the need for stablecoin legislation. In June 2023, the Fed boss told the House Financial Services Committee that stablecoins were “a form of money” that requires “robust” federal oversight.