Beth M. Hammack, president of the Cleveland Fed, said the use of stablecoins by artificial intelligence agents could significantly reshape payment flows. These agents could conduct transactions autonomously, while smart contracts would allow operations to be executed automatically. Since nearly all existing stablecoins are dollar-pegged, greater adoption could increase demand for dollar-denominated assets and US Treasury securities. Hammack nevertheless stressed that US regulation does not yet fully address smart contracts and agentic artificial intelligence in payments. The GENIUS Act, signed into law in July 2025, establishes a framework for payment stablecoins, but its federal rules are due by January 2027 at the latest, leaving questions over compliance and liability unresolved.
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