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Crypto World News reports that Federal Reserve Board Member Waller stated at the 32nd Dubrovnik Economic Conference that the widespread adoption of stablecoins globally could amplify the impact of Federal Reserve policies. He pointed out that for countries using stablecoins, it is akin to a fixed exchange rate system, effectively expanding the reach of U.S. monetary policy.

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PixelUniverseCat
· 3h ago
Waller's words are quite straightforward; stablecoins pegged to the US dollar mean that small countries' monetary policies are essentially controlled by the Federal Reserve, effectively resulting in a form of colonization.
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GateUser-cb789e81
· 4h ago
So, are USDT, USDC actually offshore extensions of the Federal Reserve? Thinking about it carefully, it's a bit scary.
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Stop-LossForBluePeony
· 6h ago
Waller, as a Federal Reserve Board member, openly saying this basically reveals his hand.
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ApeWithHomework
· 6h ago
Does this count as the transfer of monetary sovereignty? Countries should be vigilant.
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GateUser-f78f1f3e
· 7h ago
Small country: I adopted stablecoins for financial convenience, but it ended up becoming a testing ground for Federal Reserve policies.
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TheProphetOfToast
· 7h ago
The Dubrovnik conference leaks are pretty intense every year.
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BlackVelvetBluePeony
· 7h ago
The faster stablecoins become popular, the more solid U.S. dollar dominance will be—and BTC maxis are about to lose it.
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RollupStreetKid
· 7h ago
Stablecoins have become a new tool for dollar dominance.
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On-ChainCheatSheetKing
· 7h ago
I used to think stablecoins were decentralized; now I see it's just a dollar system with a different shell.
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