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31 July 2021

Janet Yellen to Assemble Regulators Over Stablecoin Concerns - Decrypt

Janet Yellen to Assemble Regulators Over Stablecoin Concerns - Decrypt


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Janet Yellen, the former chair of the Federal Reserve, is no fan of crypto.

As government officials continue to raise the alarm about stablecoins, Treasury Secretary Janet Yellen will meet with regulators next week to “discuss interagency work” around the crypto niche, which is increasingly drawing attention in Washington.

At a recent congressional hearing, Jerome Powell used Tether as an example for why stablecoins should be subject to greater oversight: “If they are going to be a significant part of the payments universe, which we don’t think crypto assets will be, but stablecoins might be, then we need an appropriate regulatory framework, which frankly we don’t have,” he said.

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