**[Federal Reserve Official Tells Bankers: No Need to Fear DeFi]** According to a report by Jinse Finance, Christopher Waller, a member of the U.S. Federal Reserve Board, told his colleagues and the private banking sector that although cryptocurrency payments operate outside the traditional banking system, "there is nothing to fear." Speaking at the Wyoming Blockchain Seminar 2025 on Wednesday, he said: "It is unreasonable to be afraid just because it happens in the world of decentralized finance (DeFi)—this is merely a new technology for transferring assets and recording transactions." Waller pointed out that using innovative technologies to create new payment services is not "something new" and called on policymakers to collaborate with the private banking sector to build cryptocurrency payment infrastructure. "There is nothing to fear when considering the use of smart contracts, tokenization, or distributed ledgers for everyday transactions."