Federal Reserve and Bank of England officials have differing views on the prospects of stablecoins

According to Cointelegraph, Federal Reserve Governor Christopher Waller and Bank of England policymaker Megan Greene expressed starkly different views on the prospects of stablecoins at the Dubrovnik Economic Conference. Waller stated that the growth in the use of dollar-backed stablecoins could enhance the global influence of U.S. monetary policy, describing stablecoins merely as payment tools, "neither evil nor dangerous," and only bringing competition to the payment sector.

Greene, on the other hand, held an opposing view, believing that tokenized deposits could replace stablecoins within a few years, stating, "In five years, we might wonder why we were talking about stablecoins." Greene compared central bank digital currencies to "turtles," stablecoins to "rabbits," and tokenized deposits to "rhinos," predicting that the rhino would ultimately prevail.

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