SEC Commissioner Expects Tighter Stablecoin Regulation — Yellen Says Stableco...
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco which saw UST losing its U.S. dollar peg and LUNA plunging to near zero. A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about cryptocurrency....
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U.S. Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation. “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,” said Yellen. US Government Discussing Stablecoin Regulation U.S. Treasury Secretary Janet Yellen announced Friday her plans to discuss the regulation of stablecoins. She will convene a meeting on July 19 of the....
As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed.
Treasury Secretary Janet Yellen Testifies Before Senate Committee
Stablecoins have become a hot topic in Washington. Following Monday’s terrausd (UST) fiasco, U.S. lawmakers are calling for....
Treasury Secretary Yellen says the regulatory frameworks for crypto assets in the U.S. should “support responsible innovation while managing risks.” She emphasized, “Regulation should be based on risks and activities, not specific technologies.”
Treasury Secretary Yellen on Crypto Regulation
U.S. Treasury Secretary Janet Yellen talked about crypto regulation Thursday at American University’s Kogod School of Business Center for Innovation.
“Digital assets may be relatively new, but they are part of a larger trend – the....
On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been one of the most topical discussions in crypto during the past 24 hours, as many have been betting on whether it will fail or recover. However, by 9:15 a.m. (ET) on Tuesday morning, the stablecoin has managed to climb back to $0.934 per unit. ** This article has been updated at 1:00 p.m. (ET) to include commentary from an unnamed source regarding specific claims stemming from social media. UST Stablecoin Plunged to $0.66 per....
Federal Reserve Board chair Janet Yellen told Congress last week that the Fed has no authority to regulate Bitcoin. “Bitcoin is a payment innovation that’s taking place outside the banking industry,” Yellen said in response to Senator Joe Manchin’s questions about the cryptocurrency. “To the best of my knowledge there’s no intersection at all, in any way, between Bitcoin and banks that the Federal Reserve has the ability to supervise and regulate. So the Fed doesn’t have authority to supervise or regulate Bitcoin in anyway.” The day before, Manchin had written to various governmental....