THELOGICALINDIAN - A abettor with the US Securities and Exchange Commission SEC expects to see stricter adjustment on stablecoins However Treasury Secretary Janet Yellen says stablecoins are currently not a absolute blackmail to the countrys banking stability
SEC Commissioner on Stablecoin Regulation
The adjustment of stablecoins has been a hot affair this anniversary afterward the Terra abortion which saw UST accident its U.S. dollar peg and LUNA coast to abreast zero.
A abettor with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about cryptocurrency adjustment Thursday during an accident hosted by the London-based Official Monetary and Financial Institutions Forum action anticipate tank.
Peirce, who is accepted in the crypto association as “crypto mom,” adumbrated that tighter regulations on cryptocurrency, decidedly stablecoins, could be advancing soon. She was quoted as saying:
Lawmakers to Work With Treasury Department on Stablecoin Regulation
U.S. assembly accept emphasized the burning charge for stablecoin regulation. In her affidavit afore the Senate Committee on Banking, Housing, and Urban Affairs this week, Treasury Secretary Janet Yellen stressed that it is important and burning for Congress to canyon legislation administering acquittal stablecoins.
Yellen additionally testified afore the House Financial Services Committee this week, advertence that for stablecoins:
Both the Banking Adherence Oversight Council (FSOC) and the Federal Reserve Board accept warned about the risks of stablecoin runs that abuse the country’s banking stability.
Do you anticipate stablecoins should be adapted urgently? Let us apperceive in the comments area below.
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