Four U.S. lawmakers have pressed Treasury Secretary Janet Yellen regarding crypto oversight gaps. The Financial Stability Oversight Council (FSOC), which Yellen chairs, has issued “repeated warnings about the lack of oversight of the digital asset markets,” the lawmakers detailed, questioning Yellen how the council believes existing laws should apply bitcoin, ether, and non-security crypto assets.
Lawmakers Want Answers From Yellen
Representatives Patrick McHenry, Glenn Thompson, French Hill, and Dusty Johnson sent a letter to Treasury Secretary Janet Yellen concerning crypto regulation on Tuesday following her testimony before the House Committee on Financial Services. In her testimony, Yellen called on Congress to “pass legislation to provide for the regulation of stablecoins and of the spot market for crypto-assets that are not securities.”
McHenry chairs the House Committee on Financial Services; Thompson chairs the House Committee on Agriculture; Hill chairs the Subcommitt
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