United States Treasury Secretary Janet Yellen listed stablecoins as one of the major policy concerns in the digital asset space for regulators, currently subject to “inconsistent and fragmented oversight.”
Speaking to attendees at American University in Washington, D.C. on Thursday, Yellen said the Treasury Department was working with Congress to advance legislation to help ensure that “stablecoins are resilient to risks” for consumers and the U.S. financial system. According to the Treasury Secretary, while stablecoins raised “policy concerns” and issues around the coins’ reserve assets, many parts of the digital asset space present potential risks that could exacerbate inequality.
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