{"id":502474,"date":"2022-10-21T00:06:58","date_gmt":"2022-10-20T21:06:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/acting-us-fdic-head-cautiously-optimistic-about-permissioned-stablecoins-for-payments\/"},"modified":"2022-10-21T00:06:58","modified_gmt":"2022-10-20T21:06:58","slug":"acting-us-fdic-head-cautiously-optimistic-about-permissioned-stablecoins-for-payments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/acting-us-fdic-head-cautiously-optimistic-about-permissioned-stablecoins-for-payments\/","title":{"rendered":"# Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28d0f6243d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28d0f6243d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/acting-us-fdic-head-cautiously-optimistic-about-permissioned-stablecoins-for-payments\/#%E2%80%9D_Acting_US_FDIC_head_cautiously_optimistic_about_permissioned_stablecoins_for_payments_%E2%80%9C\" >&#8221; Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Acting_US_FDIC_head_cautiously_optimistic_about_permissioned_stablecoins_for_payments_%E2%80%9C\"><\/span>&#8221; Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYTE0ZmMzYjctNGQ3NC00N2Q1LTgxZmQtMDI5NmQ0MjM1ZTNkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Acting United States Federal Deposit Insurance Corporation chairman Martin Gruenberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fdic.gov\/news\/speeches\/2022\/spoct2022.html\">spoke<\/a>\u00a0on Oct. 20 about possible <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications of stablecoins and the FDIC\u2019s approach to banks considering engaging in crypto-asset-related activities. Although he saw no evidence of their value, Gruenberg conceded that payment stablecoins merit further consideration.<\/p>\n<p>Gruenberg began his talk at the Brookings Institute with an expression of frustration seemingly common among many regulators:<\/p>\n<blockquote><p>\u201cAs soon as the risks of some crypto-assets come into sharper focus, either the underlying <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> shifts or the use case or business model of the crypto-asset changes. New crypto-assets are regularly coming on the market with differentiated risk profiles such that superficially similar crypto-assets may pose significantly different risks.\u201d <\/p><\/blockquote>\n<p>In light of those difficulties, the FDIC has said it is striving to gather crucial information to aid it in comprehending and eventually providing supervisory feedback on crypto assets through letters th banks are required to use to inform the agency of their crypto-related activities. Customers and insured institutions need a better understanding of how the FDIC works as well, Gruenberg noted. <\/p>\n<p><strong><em>Related: Crypto adoption: How FDIC insurance could bring Bitcoin to the masses<\/em><\/strong><\/p>\n<p>Moving on to stablecoins, Gruenberg said that although \u201cthere has been no demonstration so far of their value in terms of the broader payments system\u201d outside of the crypto ecosystem, payment stablecoins \u2014 those \u201cdesigned specifically as an instrument to satisfy the consumer and business need\u201d for real-time payments \u2014 may merit consideration. This is in spite of the fact that their benefits largely overlap those of the non-blockchain FedNow system that is expected to premiere next year. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gruenberg sounds skeptical that the benefits of payment stablecoins would outweight the rollout of FedNow, a real-time payment system we&#8217;re expecting the government to release in the spring. But notably, he says &#8220;there may be merit&#8221; to continued study here. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/0G7GP8MoNz\">pic.twitter.com\/0G7GP8MoNz<\/a><\/p>\n<p>\u2014 Brendan Pedersen (@BrendanPedersen) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BrendanPedersen\/status\/1583103437084192768?ref_src=twsrc%5Etfw\">October 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A payment stablecoin could \u201cfundamentally alter the landscape of banking,\u201d Gruenberg said. Most of the potential changes he saw were negative, even if there should be prudential regulation, 1:1 backing and permissioned ledger systems. Consolidation and disinter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tion within the banking system (especially community banks) and credit disintermediation that could \u201cpotentially create a foundation for a new type of shadow banking\u201d were among the risks Gruenberg identified.<\/p>\n<p>Back in August, the FDIC was accused by a whistleblower of deterring banks from doing business with crypto-related companies. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/acting-us-fdic-head-cautiously-optimistic-about-permissioned-stablecoins-for-payments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments &#8220; Acting United States Federal Deposit Insurance Corporation chairman Martin Gruenberg spoke\u00a0on Oct. 20 about possible applications of stablecoins and the FDIC\u2019s approach to banks considering engaging in crypto-asset-related activities. Although he saw no evidence of their value, Gruenberg conceded that payment stablecoins&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYTE0ZmMzYjctNGQ3NC00N2Q1LTgxZmQtMDI5NmQ0MjM1ZTNkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,75493,70934],"class_list":["post-502474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-stablecoin","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=502474"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502475"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}