Federal Reserve Governor Christopher Waller has called for a regulatory framework allowing both banks and non-banks to issue stablecoins. Speaking at a conference in San Francisco, he stressed that a well-defined approach is essential for stablecoins to reach their full potential and expand the global influence of the US dollar.

Waller highlighted the need for regulations that directly and fully address stablecoin risks, ensuring they can be integrated into the financial system. His views align with those of Fed Chair Jerome Powell, who previously voiced strong support for developing a stablecoin framework in the US.

Efforts to regulate stablecoins are gaining momentum in Congress, with both Republican and Democratic lawmakers proposing oversight measures. Recent bills from Rep. Maxine Waters and Rep. French Hill take different approaches to stablecoin supervision, reflecting an ongoing debate over whether the Federal Reserve or the Office of the Comptroller of the Currency should take the lead.

As stablecoins continue to grow in importance, clear regulations could shape their role in the broader financial system. With policymakers actively working on proposals, the future of stablecoin oversight remains a key issue in Washington.