❗️ Fed Representative Michelle Bowman: States and Federal Government Should Work Together on Stablecoins
🇺🇸 Federal Reserve Board of Governors representative Michelle Bowman called on states and the federal government to form a partnership to regulate stablecoins while lawmakers draft legislation.
🔍 Although Bowman did not name a specific bill, some lawmakers, including House Financial Services Committee Chairman Patrick McHenry and top Democrat Maxine Waters, have been working on stablecoin legislation for nearly two years.
⚖️ At that time, one of the main problems in the draft law was who would be the main regulator for stablecoin issuers — the federal government or state regulators.
