Speaking at the Wyoming Blockchain Symposium 2025, he stressed that digital transactions outside of traditional banking “are nothing to be afraid of”.

Waller explained that the basic mechanics of paying for something do not really change, even when newer systems are involved. To illustrate, he compared buying a piece of fruit at the grocery store with a debit card to using a stablecoin for a meme coin purchase.

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Waller said during his remarks:

There is nothing scary about this, just because it occurs in the decentralized finance or DeFi world, this is simply new technology to transfer objects and record transactions.

He added that tools such as smart contracts, tokenization, and distributed ledgers are simply different methods for carrying out familiar actions.

Waller encouraged collaboration between regulators and financial institutions so that these technologies can be developed within a clear framework. He also pointed to the Guiding and Establishing National Innovation for US Stablecoins Act as a meaningful step toward wider use of dollar-linked tokens.

Furthermore, Waller said stablecoins could strengthen the role of the dollar worldwide. In countries with high inflation or limited access to physical dollars, digital versions could provide stability for both saving and spending.

Michelle Bowman, the Federal Reserve’s Vice Chair for Supervision, also shared her views about crypto adoption for the central bank’s staff at the conference. What did she say? Read the full story.

Speaking at a conference in San Francisco on February 12, he emphasized the need for clear regulations to allow banks and other businesses to issue stablecoins while addressing potential risks.

Waller described stablecoins as a useful development in digital finance, particularly for improving everyday and international payments.

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He noted that the market has become more established but still needs a solid regulatory framework, saying:

This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape, including competing payment instruments.

Waller also expressed confidence in private companies’ ability to develop stablecoin solutions, stating that businesses and consumers would benefit most if the private sector took the lead while regulators ensured fair rules.

He acknowledged that stablecoins already serve valuable purposes, such as offering a stable store of value in crypto trading, providing dollar access in countries with high inflation, and facilitating international transactions.

At the same time, he pointed out ongoing challenges. One major issue is the lack of consistent regulations across states and countries, which creates uncertainty. He also mentioned risks such as stablecoins losing their peg to the dollar, which could cause problems for users.

Waller concluded by saying the future of stablecoins will depend on how well they meet consumer and economic needs. He noted:

The stablecoin market will grow or diminish on the merits of their benefits to consumers and the broader economy.

Meanwhile, US Congresswoman Maxine Waters recently urged lawmakers to support an earlier stablecoin bill instead of the new legislative proposal. Why? Read the full story.