🏛️ The Fed will host an innovation payment conference in October.
The tokenization of assets in the U.S., stablecoins, and decentralized financial payments will be discussed.
👀 The Fed will convene stakeholders to strengthen the payment network.
An innovation payment conference organized by the U.S. Federal Reserve (Fed) next month will review use cases for stablecoins, tokenization, and the expanding link between traditional banking and crypto.
👀The Fed will hold a conference on stablecoin and token encryption
The Fed said on Wednesday that it will hold a payment innovation conference on October 21. The agenda will discuss stablecoin applications, AI in payments, and the encryption of financial products and services.
The central bank stated that the meeting will bring stakeholders together to innovate and enhance the payment system. Officials will discuss crypto payment issues and feasible solutions.
"I look forward to considering the opportunities and challenges of new technologies, bringing ideas on how to improve the safety and efficiency of payments, and hearing from those who are helping to shape the future of payments," the head said in a statement.
The organization also intends to hold council discussions on decentralized payments and traditional finance. "Innovation has been a constant factor in payments to meet the changing needs of consumers and businesses," he said.
By 2025, the Fed has become more friendly towards the regulation and use of crypto after President Donald Trump created a favorable regulatory environment.
In April, the Fed removed guidance on banks' crypto activities, including notification obligations.
In August, the agency halted its oversight program for crypto activities, stating that it understands the regulation and risks of cryptocurrency.
The GENIUS Act focuses on stablecoin, the first cryptocurrency law in the US, which was passed in July.
In July, SEC Chairman Paul Atkins announced the Crypto Project to transition US financial markets on-chain.
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