Fed Minutes Note Stablecoins May Boost Demand for U.S. Treasuries
According to ChainCatcher, citing Jinshi News, the Federal Reserve released the minutes of its July meeting, in which many participants discussed the recent and future development of payment stablecoins and their impact on the financial system. The participants noted that with the passage of the GENIUS Act, the use of payment stablecoins may increase, thereby improving the efficiency of the payment system and potentially boosting demand for the assets backing them, including U.S. Treasury bonds. In addition, they expressed concerns that stablecoins could have broader implications for banks, the financial system, and the implementation of monetary policy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Fed Minutes Lean Hawkish as Powell’s Speech Set to Reveal Rate Cut Outlook
Fed Mouthpiece: July Meeting Shows Overall Hawkish Sentiment, More Officials Open to September Rate Cut
Analysis: A Few Officials Hint They May Join the Rate-Cut Camp in September
Fed Meeting Minutes Show Broad Support for Decision to Hold Rates Steady
