Crypto shouldn't be scary 👻

Federal Reserve Governor Christopher Waller argued that using crypto in everyday transactions is "nothing to be afraid of."

Author

Stephen Graves
August 21, 2025

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📝 What you need to know

Using crypto in everyday transactions is “nothing to be afraid of,” said Federal Reserve Governor Christopher Waller this week, as he touted the benefits of stablecoins and smart contracts.

Waller, who was appointed during U.S. President Trump’s first term, has said that he would accept a role as Fed Chair if asked.

And while senior figures at the Fed are arguing that crypto is nothing scary, the feeling may not be mutual—as the crypto world is on tenterhooks ahead of Fed Chair Jerome Powell’s speech at the Jackson Hole summit on Friday.

The crypto space is waiting with bated breath to see whether Powell will lay the groundwork for a rate cut at the September FOMC meeting, seizing on any clue that presents itself. Clues like the minutes from the Fed’s July money policy meeting, which revealed that Waller and fellow Fed Governor Michelle Bowman couldn't convince others to join them in their dissent favoring a reduction in interest rates sooner rather than later.

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