Fed Official Calls for Embracing Crypto Industry: No Need to Fear Digital Asset Innovation

　　On Wednesday Eastern Time, Federal Reserve Governor Christopher Waller stated in a speech at the Jackson Hole Blockchain Summit that there is "nothing to fear" about digital asset innovation, making him the second senior Fed official this week to praise the crypto industry.

　　"There is nothing to fear when considering smart contracts, tokenization, or distributed ledgers," he said. "Using innovative technology to create new payment services is nothing new."

　　According to reports, Waller is a top contender for the next Fed Chair. A recent U.S. media survey showed that among the 11 candidates currently under consideration by the Trump team, his likelihood of being appointed Fed Chair is second only to Kevin Hassett, Director of the National Economic Council.

　　Furthermore, Waller has long been a supporter of the crypto industry and stablecoins.

　　Appointed by President Donald Trump in 2020, Waller noted in his Wednesday speech that over the past few years, some top innovations have been "vilified" due to their association with digital assets. However, innovations in digital assets and decentralized finance (DeFi) should not be stigmatized.

　　"These are just technologies—what’s so bad about them?" he said. "If they can lead to more useful and interesting ways of doing things, then we should consider and adopt them."

　　Waller also mentioned that the Fed is exploring how to tokenize assets and how to use smart contracts and distributed ledgers.

　　"As a central bank, we may never go down this path, but there is no reason not to explore and see what happens," he said.

　　The day before Waller's speech, Fed Vice Chair for Supervision Michelle Bowman also stated that banks and bank regulators should treat the industry more favorably and praised tokenization.

　　The remarks from Waller and Bowman highlight a shift in attitude among senior Fed officials toward digital assets and payment innovations, potentially indicating that future U.S. policy environments will provide more space for cryptocurrencies and related enterprises.