Federal Reserve Governor Barr: Stablecoin innovation should be allowed, but must occur within a "very clear regulatory framework"

Federal Reserve Governor Barr said that the banking system has not been seriously affected by the risks of cryptocurrency, and most banks have adopted a cautious attitude. We have to be very careful with stablecoins, historically private currencies can have “explosive” impact if poorly regulated. Stablecoin innovation should be allowed, but only within a “very clear regulatory framework.” (Golden Ten)