Randal Quarles spoke publicly as the Board of Governors of Federal Reserve System for the last time.

Quarles made a prepared speech for the American Enterprise Institute’s Dec. 2 speech Concerns that regulation could hinder innovation in digital assets, specifically when it concerns stablecoins, are common. Some of the stablecoin regulations from the Fed were suggested by the Fed governor. President’s Working Group on Financial Markets’ November report are unnecessary, including “limiting wallet providers’ affiliation with commercial entities.”