# Federal Reserve Governor Miran addresses stablecoins and monetary policy

> Governor Stephen Miran discussed how stablecoin growth could affect dollar demand, Treasury markets, banking, and monetary policy transmission.

- URL: https://riadefi.com/regulation/2025-11-07-federal-reserve-miran-stablecoins-monetary-policy-signal/
- Posture: Official signal · nonbinding
- Authorities: Board of Governors of the Federal Reserve System
- Event date: 2025-11-07
- 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 Stephen Miran discussed how stablecoin growth could affect dollar demand, Treasury markets, banking, and monetary policy transmission.

## Who it affects

- Stablecoin issuers and users, banks, asset managers, investment advisers, and clients

## What is still open

- The scale and direction of stablecoin adoption and resulting market effects

## What it means for an advisor

- Monitor reserve-asset concentration, liquidity, and interest-rate transmission as contextual—not binding—risk signals.

## Sources

1. [Federal Reserve Governor Miran addresses stablecoins and monetary policy](https://www.federalreserve.gov/newsevents/speech/miran20251107a.htm) · Board of Governors of the Federal Reserve System · 2025-11-07


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