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Biden's pick for Fed vice chair for supervision calls for congressional action on stablecoins

Michael Barr, the prospective Fed vice chair for supervision, said innovative technologies including crypto had โ€œsome potential for upside in terms of economic benefitโ€ but also โ€œsome significant risks,โ€ citing the need for a regulatory framework on stablecoins to prevent the risk of runs.
United States Jerome Powell Mark Uyeda Gary Gensler Jaime Liz Elizabeth Warren

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