Washington takes aim at the booming crypto industry

Josh Lipsky, director of the Atlantic Council’s GeoEconomics Center, said the stablecoin recommendations and the Fed’s report on its own digital currency “are deeply connected” since the two assets “could easily become competitors. On the other hand, a digital dollar could be used for core government functions like taxes and stimulus, while a well-regulated private stablecoin could be used in retail. But all of it impacts each other and the end goal, which is tricky, is building a health digital currency ecosystem.”