Jerome Powell actually said...

We believe that it would be appropriate to have quite a robust Federal role in what happens with stablecoins going forward.

We at the Fed remain squarely focused on our dual mandate to promote maximum employment and stable prices for the American people.

Where there is same activity, there really ought to be same regulation.

We are following it very, very closely, and I think you have put your finger on it, this is a problem more for smaller banks.