His comments come after a series of changes inside the Fed. In April, the central bank withdrew 2022 guidance that discouraged banks from engaging in crypto and stablecoin activities.
Last week, it also ended its “novel activities supervision program,” which had been monitoring crypto-related activity with extra scrutiny. Fed Vice Chair for Supervision Michelle Bowman went even further, saying staff should be allowed to hold small amounts of crypto to better understand the technology they regulate.
Waller, who is being mentioned as a possible successor to Jerome Powell when his term as chair ends in May 2026, could see his influence grow.
Reports have said US President Donald Trump has pressured Powell to resign, adding weight to speculation about Waller’s role in shaping the Fed’s future position on digital assets.
“I can go to the grocery store and buy an apple with a debit card,” Waller said. “In the same way, I can use a stablecoin to purchase a meme coin, and the process is no different when you look at the mechanics behind it.”
By simplifying the idea, Waller sought to reduce fear that still lingers in the banking industry over crypto payments and highlight how the technology mirrors what consumers already do every day.
He suggested that stablecoins could strengthen the dollar’s global standing, especially in countries facing high inflation or limited access to physical dollars.
Featured image from Unsplash, chart from TradingView
