Perianne, founder and CEO of The Chamber of Digital Commerce believes that stablecoins are not a financial stability risk.

Perianne Boring, founder and CEO of the Chamber of Digital Commerce, has told CNBC in a recent interview that she doesn’t think stablecoins pose financial stability risk.

Boring mentioned the speech of Michael Barr, the vice-chair for supervision at the United States Federal Reserve Board, in which he stated that stablecoins should be under Fed supervision.

The CEO of the Chamber of Digital Commerce stated that Barr’s statements are exaggerated due to the size of the global stablecoin marketplace. She stated ;

” The global total value of all stablecoins today is approximately the same size as a regional bank of mid-sized. Stablecoins are not a financial stability risk.”

She stated that Barr’s speech was intended to convey a message to Congress about passing legislation currently being worked on by the House Financial Service committee.

Boring stated that the United States Federal Reserve should be focusing on monetary policy and leaving legislative matters to Congress.

She said that while regulation of digital assets is necessary, it must be done in a transparent manner.

When Boring was asked about her thoughts on the crypto winter and the impact of the Fed’s recent policies on the market, Boring replied ;

“Crypto is a volatile asset and has always been. It is crucial that we have a macro view of all market risk assets. These include Wall Street and commodities. There has been a lot of volatility in the crypto market over the past few months. There is a lot happening in our economy, which is creating volatility in the crypto market. I think Bitcoin is still a hedge against macro factors like inflation.”

Boring stated that Bitcoin is a widely misunderstood asset. She said that investors have been forced to invest in cryptocurrencies for over a decade.

She emphasized the fact that the Securities and Exchange Commission has stopped all attempts to create a Bitcoin exchange traded fund (ETF). This move, she believes, has made it difficult for some financial institutions enter the cryptocurrency market.

According to Boring, one of the most significant conundrums within the industry is the denial by the SEC of a Bitcoin ETF.