Fed's Waller: Fed researching tokenization, smart contracts, and AI in payments

Regulatory Landscape & Innovation - Fed Governor Chris Waller highlights the technology-driven revolution in payment systems and expresses no fear regarding transactions using distributed ledgers [2] - The Fed considers distributed ledgers important in terms of financial compliance [2] - The Fed believes both public and private sectors can embrace innovations in payments [2] - The Genius Act, recently passed in Congress, is seen as an important step that could help stable coins reach their full potential [3] - AI is being used to advance fraud detection and compliance [3] - The Fed is researching tokenization, smart contracts, and AI in payments [3] Fed's Involvement - The Fed is deeply involved in monitoring innovations in payment systems [4] - This is important for the Fed, which is deeply involved in financial regulation [4]