The Breakdown Fed Governor Waller Says Crypto Adoption Is Nothing to Fear
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Aug 22, 2025 Federal Reserve Governor Christopher Waller delivered a standout pro-crypto message at the Wyoming Blockchain Summit, highlighting decentralized finance as the future of financial tech. He praised stablecoins as a mature infrastructure, pushing for the Fed to modernize its payment systems to embrace crypto. Joking about meme coin trading, he made the digital asset world sound approachable. Meanwhile, Senator Cynthia Lummis shared her plans for crypto legislation, as Wall Street sets its sights on the lucrative stablecoin market.
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DeFi Framed As Familiar Payment Tech
- Fed Governor Christopher Waller framed DeFi as just new payment technology rather than something to fear.
- He compared buying a meme coin with using a stablecoin and recording the payment via smart contracts on a ledger.
Stablecoins Seen As Mature Infrastructure
- Waller argued stablecoin markets have matured into reliable infrastructure since 2021's failures.
- He urged the public sector to embrace innovation while respecting distinct roles for public and private actors.
Modernize Fed Payment Rails
- Do modernize central bank payment rails to be compatible with crypto, Waller urged.
- He said the Fed should research tokenization, smart contracts, and AI to spot opportunities to improve platforms.