Christopher Waller: "Private stablecoins are more viable, than CBDC " – Bits Media

US Federal Reserve Board member Christopher Waller does not share the general euphoria of CBDC and believes, that private stabilcoins can better perform the function of digital currency.

Instead of the release of state digital currency (CBDC) Christopher Women's (Christopher Waller) calls to support the work of private companies in this direction. Especially those, What are developing stablecoins.

In his opinion, It is private stabiblcoins that can compete with national currency in the field of payments. Waller said:

“I remain quite skeptical in relation to statements about that, that the digital currency of the federal reserve will be able to solve important problems in the American payment system. The government should interfere only for that, to prevent the crisis in the market. This is a fundamental principle, which America adheres from the day of its foundation, And I don't think, that in the CBDC issue we should retreat from it ".

At the same time, Waller recognizes, that stablecoins are not yet sufficiently developed and are far from so well adjustable, How would it be:

“There are many legal and regulatory issues, which must be solved before, how to fully use stablecoins ".

At the end of May, US Federal Reserve Chairman Jerome Powell (Jerome Powell) stated, that the United States tends to take leading positions in the development of standards for digital currencies of central banks.