Fed’s Powell Signals ‘Meaningful Progress’ on US Stablecoin Bill

Key Points

1. Bipartisan momentum is driving the U.S. toward establishing a stablecoin regulatory framework.

2. Powell describes crypto stablecoins as a 'positive step' and confirms the framework is well underway.

3. The U.S. may adopt global standards like the EU's MiCA framework while maintaining local adaptability.

4. Stablecoins are seen as crucial for bridging crypto and conventional finance, with increasing corporate interest in their use.

5. The EU's MiCA framework supports cross-border stablecoin exchanges and regulatory harmonization, offering a parallel path for U.S. regulations.