Federal Reserve Governor Paul Waller: A stablecoin is like a synthetic dollar that will strengthen the dollar's status as a reserve currency

Fed Governor Paul Waller said in a speech that stablecoins are like a synthetic dollar, and if they can make payments faster and cheaper, I agree. Regulation of stablecoins is urgently needed, and the sooner the better. Stablecoins will allow the dollar to further strengthen its position as a reserve currency.