There is no need for me to introduce the previous governors, but nonetheless, it is important not to take for granted their achievements, which placed the Bank of Israel at the forefront of economic activity in Israel and in central banking worldwide, and strengthened the Israeli economy, its stability and its robustness.
As Chair Powell said the other day, a central bank is and will always be the main source of trust behind money. Stablecoins borrow that trust, so we have an abiding interest in a strong federal prudential framework for their use. Over time, stablecoins could pose a risk to financial stability, and it is important to get the regulatory framework right before they do.