# Federal Reserve Governor Waller outlines a bank-and-nonbank stablecoin framework

> Governor Christopher Waller described stablecoins as potentially useful payment instruments and called for a framework that permits both bank and nonbank issuers with appropriate safeguards.

- URL: https://riadefi.com/regulation/2025-02-12-federal-reserve-waller-stablecoins-payments-signal/
- Posture: Official signal · nonbinding
- Authorities: Board of Governors of the Federal Reserve System
- Event date: 2025-02-12
- Version: 1, published 2026-08-07 (first published 2026-08-07)
- Advisor-relevant: no

This entry records an official signal, such as a speech or a statement. It does not change the law.

## What changed

Governor Christopher Waller described stablecoins as potentially useful payment instruments and called for a framework that permits both bank and nonbank issuers with appropriate safeguards.

## Who it affects

- Stablecoin issuers, banks, payment firms, investment advisers, and clients using stablecoins

## What is still open

- The final statutory and agency framework and division of federal and state oversight

## What it means for an advisor

- Track issuer eligibility, reserve, redemption, custody, and payment-use requirements without treating the speech as binding law.

## Sources

1. [Federal Reserve Governor Waller outlines a bank-and-nonbank stablecoin framework](https://www.federalreserve.gov/newsevents/speech/waller20250212a.htm) · Board of Governors of the Federal Reserve System · 2025-02-12


---

Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.