The U.S. Department of Housing and Urban Development (HUD) is evaluating blockchain and stablecoin technology for social housing payments and financial transactions.
Differences in Opinions on Proposals
Meetings discussed blockchain's potential to enhance payment tracking and transparency. While optimistic about these technologies, some HUD staff expressed concerns over increased price volatility and unclear project needs.
Official Statements from HUD and the Treasury
A HUD spokesperson stated there is no concrete plan for these technologies yet. Treasury Secretary Scott Bessent emphasized stablecoin regulations should not undermine the dollar's global status.
HUD's initiative to explore blockchain and stablecoins shows federal interest in new financial technologies. However, future steps depend on a thorough evaluation of benefits and risks.
