Federal Reserve official: Stablecoin growth is ‘exponential,' deserves ‘attention'
While a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked at the idea of regulation and oversight, the central bank might simply be pondering the future.
In a presentation titled “Financial Stability,” Rosengren identified the stablecoin Tether by name as a part of three different “Financial Stability Challenges.” The challenges included risks to the housing market, the need for emergency lending facilities in times of crises, and “periodic disruptions to short-term credit markets,” where Tether was noted as one possible disruptor.
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