News with the tag "Michael Barr"

Michael Barr, the U.S. Federal Reserve’s vice chair for supervision, will step down from his position on Feb. 28 — or earlier, if a successor is confirmed — according to a Monday announcement from the Federal Reserve. Barr will continue to serve as a member of the Federal Reserve Board of Governors....

The stability of the financial market teeters on a precipice when private stablecoins burgeon unchecked, the Federal Reserve has issued a stark admonition. The very fabric of the U.S. financial system could be shaken if the burgeoning field of crypto stablecoins is left to expand unfettered. The Fed...

Vice Chairman Michael Barr argued that the Fed needs regulatory and enforcement authority over stablecoin issuers – a point of contention in the debate over legislation.

The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they “could pose significant r...

Federal Reserve Vice Chair of Supervision Michael Barr raised alarms about stablecoins in a fintech conference on Friday. He emphasized the urgent need for strong federal oversight. Barr warned that non-regulated stablecoins could risk financial stability and monetary policy. This message comes as H...

The U.S. is far from making any decision on a central bank digital currency (CBDC), said Federal Reserve Vice Chairman Michael Barr, who described the Fed as still being in the “basic research” phase.