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26 July 2021

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines


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United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins.

Co-founder and CEO of Circle, Jeremy Allaire, labeled the meeting as “very significant”, commenting that stablecoins are here to stay and likely to become key components of the global economic and financial system:.

Speaking on stablecoins last week, Federal Reserve Chair Jerome Powell similarly emphasized the need to establish a robust regulatory framework for stable tokens.

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cointelegraph.com
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