Fed's Waller says stablecoins would make dollar even more of a reserve currency

I would be curious about the structure of any USD stablecoin.

One of the things the US loves to do is sanction. If you have some kind of open stablecoin, it would take that power away. So instead you would have a stabelcoin that could be confiscated, which would still have a great utility, just not the kind that was the genesis of crypto. I imagine it would ultimately lead to some kind of surveillance state.