Federal Reserve Governor Christopher Waller called on banks and policymakers to approach crypto-based payments with openness rather than suspicion.
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.
