February 13th news, according to Bloomberg, Federal Reserve Director Waller said that stablecoins have the potential to maintain and expand the role of the dollar internationally, although its rise and fall will depend on solid commercial application cases and a unified system of rules. In his speech at a conference in San Francisco, Waller pointed out that the stablecoin market will benefit from a US regulatory and oversight framework targeting stablecoin risks, which should directly, comprehensively and accurately solve the risks of stablecoin. He said: This framework should allow banks and non-bank institutions to issue regulated stablecoins and should consider the impact of regulation on the payments sector. Waller also mentioned that stablecoins are at risk of runs. Waller said: The emergence of stablecoin regulatory systems in different countries and regions may lead to domestic and foreign regulatory conflicts. He also pointed out that such regulatory fragmentation may make it difficult for issuers of US dollar stablecoins to operate globally. Waller mentioned that state regulators play a key role in the development of the stablecoin market and that new regulations are being formulated or finalized, multiple states are developing or finalizing. There is a risk of interstate regulatory conflicts, which may hinder the use of the same stablecoin in all states, thereby reducing the scalability of the stablecoin.