October event will cover tokenization, stablecoins, and payments innovation as political pressure mounts
The US Federal Reserve has scheduled a payments innovation conference for October 21, highlighting digital assets, stablecoins, and tokenization. The announcement comes as the central bank faces mounting political and legal challenges surrounding its independence.
Fed outlines agenda on tokenization and stablecoins
In its notice, the Fed said the conference will explore “emerging stablecoin use cases and business models” and the “tokenization of financial products and services.” The event is positioned as part of the central bank’s ongoing effort to modernize US payment systems.
Governor Christopher Waller, speaking on behalf of the Board, stated: “Innovation has been a constant in payments to meet the changing needs of consumers and businesses. I look forward to examining the opportunities and challenges of new technologies, bringing together ideas on how to improve the safety and efficiency of payments, and hearing from those helping to shape the future of payments.”
The Fed’s inclusion of tokenization discussions comes shortly after the passage of the GENIUS Act in July, which establishes a framework for payment stablecoins. The Treasury and the Fed are now required to issue regulations before the law can take effect.
Political tensions over Fed independence
The conference arrives during a period of heightened scrutiny over the Fed’s independence. President Donald Trump has moved to dismiss Fed Governor Lisa Cook, citing allegations of mortgage fraud — claims Cook disputes in court.
In response, more than 600 economists signed an open letter warning that weakening protections for Fed governors would “increase monetary policy uncertainty and force markets to price political risk into interest rates, raising borrowing costs for families and businesses.”
Legal experts note that while a past Supreme Court decision expanded presidential authority over independent agencies, the Fed remains a “uniquely structured, quasi-private entity.” This means any removal of a governor must meet the strict “for cause” standard.
The dual narrative — regulatory innovation through tokenization and political tension over governance — sets the stage for one of the most closely watched Fed conferences in recent years.
Disclaimer
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