"Stablecoins may have a big future with consumers and businesses," Powell said. "We can't know that now, but it is important for the development of stablecoins — in a safe and sound manner that protects consumers and savers and all — that there be a regulatory framework.

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"Stablecoins may have a big future with consumers and businesses," Powell said. "We can't know that now, but it is important for the development of stablecoins — in a safe and sound manner that protects consumers and savers and all — that there be a regulatory framework.