Chamber of Digital Commerce President Perianne Boring reacts to Fed Chairman Powell saying cryptocurrencies and central bank digital currencies would be able to coexist.
Well, there are hundreds of billions of dollars of stablecoin's that are already in circulation in the crypto economy today. The Fed is behind at the end of the day when it comes to developing a blockchain strategy and really understanding how the Fed is going to play and the global CBDC ecosystems.
The best approach for the Fed is to partner with the private sector to leverage the technology that has already been developed and is already in use today. I think this is really a positive signal, and it also shows that there is truly an opportunity for the US To continue to take a lead in the blockchain ecosystem.
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