Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments

Acting United States Federal Deposit Insurance Corporation chairman Martin Gruenberg spoke on Oct. 20 about possible applications of stablecoins and the FDIC’s 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.

Gruenberg began his talk at the Brookings Institute with an expression of frustration seemingly common among many regulators: