Lates News

The Federal Reserve released the minutes of its July meeting, in which many participants discussed the recent and future developments related to payment stablecoins and their potential impact on the financial system. These participants pointed out that the use of payment stablecoins may increase with the recent passage of the "GENIUS Act" (the US Stablecoin Guidance and National Innovation Act). They stated that payment stablecoins help improve the efficiency of the payment system and also noted that such stablecoins may increase demand for the underlying assets supporting them (including US Treasury bonds). Additionally, the participants who expressed their opinions expressed concerns that stablecoins could have a broader impact on banks, the financial system, and the implementation of monetary policy, so it is worth closely monitoring various types of assets used to support stablecoins.