A new BWC Backgrounder examines the growing role of stablecoins in the financial system and the policy questions they continue to raise. Written by BWC Chair William C. Dudley, the Backgrounder analyzes the implications of the GENIUS Act, examines the Federal Reserve’s role, and identifies key issues to watch as stablecoins become more integrated into the financial system.

Stablecoins Go Mainstream by William C. Dudley, Chair, Bretton Woods Committee; Former President, Federal Reserve Bank of New York