Fed will meet to discuss innovation of payments with stablecoins and tokenization

By Hannah Pérez

The officials of the Central Bank of the United States scheduled a conference in October to discuss the convergence of traditional and decentralized finances.

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• The Federal Reserve (Fed) of the USA announces Payment Innovation Conference.
• Officials will meet in October to discuss the stablecoins and tokenization.
• The center will be the convergence between traditional and decentralized finances.
• It is part of the efforts of regulators to align with Trump’s pro-written vision.

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The Federal Reserve of the USA (FED) is scheduled Blockchain To improve the payment system.

The Fed Board issued a press release this Wednesday, informing that it will organize a conference on “Innovation in payments”Next October. The meeting will bring together a variety of interested parties to discuss how to innovate and improve the payment system, focusing on the convergence of traditional and decentralized finances.

Among the issues to be addressed, officials They will discuss About the Stablecoins and the tokenization of financial products and servicesdiscussing possible use cases and emerging business models of Tokens with fiduciary parity, as well as about the representation of traditional financial vehicles in the Blockchain

The panels will also cover the intersection of artificial intelligence (AI) and paymentsaccording to the official statement.

“Innovation has been a constant in payments to meet the changing needs of consumers and companies ”said Governor Christopher J. Waller in the note. “I hope to examine the opportunities and challenges of new technologies, gather ideas on how to improve the safety and efficiency of payments and listen to those who contribute to define the future of payments ”.

The Fed said it will broadcast the live conference for the public on October 21 through its website.

Fed aligns with Trump’s pro-written vision

The event will be held at a changing moment for the regulation of cryptocurrencies in the United States, where the Donald Trump administration has promoted the creation of new clear rules for the industry in an effort to fulfill the president’s promise to turn the country into a “World Capital of cryptocurrencies“

Bank supervisors have changed their focus on cryptocurrencies to alienate Trump’s favorable vision. The Federal Reserve revoked this year a rule that deterred banks to participate in cryptocurrency activities and Stablecoinspreventing them practically providing their clients with custody services of Bitcoin and other assets.

The Fed also ended a program that supervises the banks involved in cryptocurrencies and removed the classification of “Reputational risk” of bank exams. The measures have been seen in response to a Trump order to leave the Debanking behind –Bank access restriction to crypto companies– which promoted the administration of Biden.

The main financial regulators, the stock and securities commission (SEC) and the Commission for Trade of Futures of Raw Materials (CFTC), have also recently launched regulatory initiatives to follow the recommendations of the presidential work group on digital asset markets, which seeks to strengthen US leadership. UU. In financial technology.

The minutes of the month of JulyThe Federal Open Market Committee showed that officials have discussed the benefits of Stablecoins, suggesting that tokens linked to fiduciary currency could “Improve the efficiency of the payment system”

Trump signed in June the genius law, which first introduces a regulatory framework for Stablecoins In the US.

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Hannah Estefanía Pérez / Diariobitcoin

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