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Treasury’s Nellie Liang Labels Stablecoins as ‘Foundational’ to Crypto Industry
Summary: Treasury Undersecretary for Domestic Finance Nellie Liang said U.S. financial regulators have focused on stablecoins because of the central role they’ve begun playing in the world of cryptocurrencies. “We believe they’re kind of foundational to crypto and future crypto services,” Liang said Thursday during a virtual event sponsored by the Institute of International Finance. The ...
Treasury Undersecretary for Domestic Finance Nellie Liang said U.S. financial regulators have focused on stablecoins because of the central role they’ve begun playing in the world of cryptocurrencies.
“We believe they’re kind of foundational to crypto and future crypto services,” Liang said Thursday during a virtual event sponsored by the Institute of International Finance.
The PWG is a group of regulators led by the Treasury that includes the heads of several federal agencies. It’s aiming to issue a report on stablecoins, which are tied to the value of a sovereign currency, by the end of the month. Liang said the group would issue a report “in a few weeks.”
By Amy Liu
Tags: Crypto,Nellie Liang,Stablecoins
Link: Treasury’s Nellie Liang Labels Stablecoins as ‘Foundational’ to Crypto Industry [Copy]
