U.S. financial agencies will meet to discuss the future impact of stablecoins
They intend to discuss the regulation of stablecoins, as well as the technology's potential benefits and risks. U.S. Secretary of the Treasury Janet L. Yellen announced plans to convene the President's Working Group on Financial Markets, or PWG, as well as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to discuss possible interagency work with regard to stablecoins. The meeting is set to take place on Monday July 19.Secretary Yellen said:“Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating....
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The U.S. Treasury Department is reported to have held meetings with participants from the country’s financial industry to discuss “the risks and benefits posed by stablecoins.” In addition, officials are said to have used the meetings to discuss “whether stablecoins would require direct oversight if they become extremely popular.” Policymakers Alarmed by Growth of Crypto Market According to a report, the meetings come on the heels of a “rapidly expanding cryptocurrency market which exceeded a record $2 trillion in April.” This rapid growth....
Stablecoins should meet the same regulatory standards as other financial instruments, Trump’s Working Group on Financial Markets said.
The Chairman of the Securities Exchange Commission, Gary Gensler, showed his cards. He spoke with legacy-media-operation The Washington Post and host David Ignatius for their series “The Path Forward” and spilled the beans. We at NewsBTC saw the whole interview so you don’t have to. We selected the most crucial quotes, and present them in all their splendor for you all to read them and reach your own conclusions. Of course, we’re going to offer our two cents. We’re not made of steel. In general, though, you’ll get Gary Gensler’s unadulterated words. They’re shocking enough as....
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....
In the last year, stablecoins have gone from representing just a tiny fraction of global cryptocurrency trading volume to more than half of it. This, because more users than ever before now use stablecoins to exit volatility, invest, and make payments. But in order for stablecoins to truly achieve mass adoption, they need to appeal […]