US Treasury Secretary Janet Yellen told the financial authorities that the government must act quickly to implement a regulatory framework for stablecoins.
These comments came from the meeting of the presidential working group on financial markets on Monday. According to Reuters, the group discussed the rapid growth of stablecoins and announced plans to issue regulatory guidance in the coming months.
The group also discussed the stablecoin as a means of payment, potential risks to end users, and broad implications for the US financial system and national security.
At the time, she mentioned the potential of this new technology, but warned about the reality. This is a financial terrorism instrument.
Co-founder and CEO Jeremy Aller called the meeting very important. The coins will remain here and become an integral part of the global economy and finance system
Speaking about stablecoins last week, Federal Reserve Chairman Jerome Powell stressed the need to create a solid regulatory framework for the stablecoin system.
