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Federal Reserve’s Barr calls for caution and oversight in stablecoin evolution

Federal Reserve’s Barr calls for caution and oversight in stablecoin evolution

Federal Reserve Vice Chair for Supervision, Michael S. Barr, emphasized the need for caution and oversight in the development of central bank digital currencies (CBDCs) and stablecoins.

He stated that any progress must have clear support from the executive branch and legislative approval from Congress.

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