Federal Reserve Governor Christopher Waller, speaking at an event in Dubrovnik, Croatia, highlighted the potential of stablecoins to extend the reach of US monetary policy globally. He explained that countries adopting stablecoins would effectively import US monetary costs, akin to a fixed exchange rate system. This could enhance the US dollar's role as a reserve currency. Waller reiterated his support for stablecoins, emphasizing the necessity for clear regulations around them. He also criticized the concept of central bank digital currencies (CBDCs), arguing there is no inherent need for them and labeling them as a 'solution in search of a problem.' He pointed out that many major central banks have halted their CBDC initiatives due to the lack of a compelling rationale. In contrast, the European Central Bank is moving forward with plans to launch a digital euro by 2029, which aims to address concerns over reliance on US payment systems and dollar-pegged stablecoins.