Christopher Waller, the governor of the US Federal Reserve, told his colleagues and the private banking industry that while cryptocurrency payments operate outside the traditional banking system, "there is nothing to be afraid of".
Speaking at the Wyoming Blockchain Symposium 2025 on Wednesday, he said: "It doesn't make sense to be scared just because it's happening in the world of decentralized finance (DeFi) - it's just new technology for moving assets and recording transactions."
Pointing out that the use of innovative technology to create new payment services was "nothing new", Mr. Waller called on policymakers to work with the private banking industry to build crypto payment infrastructure. "There is nothing to fear when thinking about smart contracts, tokenisation or distributed ledgers for everyday transactions."
Federal Reserve Governor Paul Waller told bankers that there is no need to fear DeFi.
2025-08-21 01:13:41
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