Federal Reserve Governor Christopher Waller addressed the potential of stablecoins during a recent conference in San Francisco. He emphasized that stablecoins could enhance the international role of the U.S. dollar, contingent upon the establishment of a regulatory framework that permits both banks and non-banks to issue these digital currencies. Waller noted that stablecoins represent an important innovation within the cryptocurrency ecosystem, with the ability to improve retail and cross-border payment systems. He expressed confidence that regulations governing stablecoins would be enacted swiftly, highlighting the need for harmonized rules to prevent market fragmentation. Waller's remarks come as bipartisan legislation is being developed in Congress to impose stricter controls on stablecoin issuers, aiming to ensure adequate reserves and limit the involvement of major tech companies in the stablecoin market.