Treasury Secretary Janet Yellen, in her forthcoming appearance before the House Financial Services Committee, is set to emphasize the potential dangers the cryptocurrency industry presents to financial stability, advocating for legislative action to regulate digital assets effectively.
Treasury Secretary Janet Yellen Urges Congress to Act on Crypto Regulation Amid Financial System Concerns
U.S. Treasury Secretary Janet Yellen is set to speak on the potential risks posed by the crypto industry to the financial system, including the instability of stablecoins, the danger of runs on crypto platforms, and the volatility of crypto-asset prices in her testimony before the House Financial Services Committee on Tuesday. Yellen’s prepared remarks, which were shared ahead of the session, spotlight the government’s increasing focus on digital assets as a significant area of concern.
Leading the Financial Stability Oversight Council (FSOC), a coalition of federal financial regulators tasked wi
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