Federal Reserve Official Warns of Stability Risks in Booming Stablecoin Market
A top Federal Reserve official has expressed significant concerns about the rapidly growing stablecoin market and its potential impact on financial stability. Michael Barr warned that unregulated stablecoins could be vulnerable to runs during market stress, drawing parallels to historical private money crises.
Federal Reserve Official Raises Alarm Over Stablecoin Growth
A senior Federal Reserve official has highlighted potential stability risks in the rapidly expanding stablecoin market, according to recent statements made at a major financial technology conference. Federal Reserve Governor Michael Barr expressed concerns about how these digital assets could affect broader financial stability during his appearance at DC Fintech Week.