According to CoinMeta, Wu said that a research paper published by the Federal Reserve on September 4th discussed how stablecoins, tokenized deposits, and tokenized money market funds could be included in the US money supply statistics. The study suggests that payment stablecoins could be classified under M1 or M2 depending on their use: if mainly used for daily payments, they could be categorized as M1; if primarily for crypto transactions and short-term value storage, they would be closer to M2. Currently, payment stablecoins are not yet included in the total US money supply, and issues such as data reporting, double counting of reserve assets, and global circulation need to be addressed in the future. The article also points out that tokenized deposits have already been included in M1 or M2 along with traditional deposits, and retail tokenized money market funds have been included in M2. The author emphasizes that this research represents only personal views and is not a policy discussion or decision by the Federal Reserve.