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Treasury Secretary Janet Yellen Will Convene Regulators To Discuss Stablecoins
Summary: After Fed Chairman Powell expressed concerns about unregulated stablecoins at the hearing yesterday, Treasury Secretary Janet Yellen announced on Friday that she plans to convene the President’s Financial Markets Working Group (PWG), the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to discuss cross-departmental work on stablecoins. The group meeting ...
After Fed Chairman Powell expressed concerns about unregulated stablecoins at the hearing yesterday, Treasury Secretary Janet Yellen announced on Friday that she plans to convene the President’s Financial Markets Working Group (PWG), the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to discuss cross-departmental work on stablecoins.
The group meeting will be held on Monday, July 19.
Yellen said: "Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system. In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities."
By Mary Liu
Tags: Janet Yellen,Regulation,Stablecoins
Link: Treasury Secretary Janet Yellen Will Convene Regulators To Discuss Stablecoins [Copy]
