BPI Issues Statement in Response to Stablecoin Report by President’s Working Group and Financial Regulators

Washington, D.C. – Today, the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency issued a joint report on the regulatory considerations related to stablecoins. Greg Baer, BPI President and CEO, issued the following statement in response to the report:

Today’s PWG report comes not a moment too soon, as new products have raised novel serious consumer protection and financial stability concerns.  The report sets forth a cogent analysis of the risks and what looks to be a wise response to them.  At the very least, it demonstrates how regulators can share expertise, consult broadly and act promptly when confronted by new risks to our financial system.


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