Christopher Waller, federalreserve governor, equates crypto with baseball cards and is glad it’s not messing with U.S. banking. He also doesn’t really want the Fed to get into the digital-dollar business. jesseahamilton reports
Parts of the crypto universe should be encouraged to thrive as long as they don’t threaten the U.S. banking system, said Christopher Waller, a Federal Reserve Board governor, who also shared an optimistic note that the young industry will work out its problems.
that the fallout from the FTX collapse and other recent firm failures hasn’t caused significant damage to the system the Fed oversees.limited number of interconnections “I'm supportive of prudent innovation in the financial system, while at the same time concerned about banks engaging in activities that present a heightened risk of fraud and scams, legal uncertainties, and the prevalence of inaccurate and misleading financial disclosures,” he said.
“They’ll get there, and when that happens, there’s a lot more ability to think about interacting crypto into the traditional financial sector,” he said, noting he’s not in a hurry to get involved personally.
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