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Fed Governor Waller says ‘there is nothing scary’ in payments using DeFi rails – TON BOT

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Fed Governor Waller says ‘there is nothing scary’ in payments using DeFi rails

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Federal Reserve Governor Christopher Waller reassured that Decentralized Finance (DeFi) is not scary as it operates outside traditional banking infrastructure. He emphasized that blockchain-based transactions are a natural evolution, comparing DeFi to conventional purchases. Waller advocated for private sector-led innovation in payment systems, citing stablecoins’ global accessibility and potential to extend the role of the dollar internationally. He emphasized the importance of market-driven solutions and highlighted the passage of the GENIUS Act as a positive step for the stablecoin market. Waller’s comments in Wyoming and other events in 2024 demonstrate a pro-innovation stance towards DeFi and its potential to complement traditional finance. He highlighted the Fed’s technical research on tokenization, smart contracts, and artificial intelligence in payments, emphasizing the importance of private sector firms leveraging central bank infrastructure for technological advancements in the payment system revolution.

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