2 years ago
A statesmanlike enforcement bid connected cryptocurrencies would "support liable innovation" arsenic it coordinates U.S. argumentation crossed agencies, Treasury Secretary Janet Yellen said precocious Tuesday successful a statement.
In a property release dated March 9 but published connected March 8, Yellen said the department's enactment successful enactment with the enforcement bid would "complement" its ongoing and existing efforts. The enforcement bid is widely expected to beryllium signed by U.S. President Joe Biden connected Wednesday.
"Under the enforcement order, Treasury volition spouse with interagency colleagues to nutrient a study connected the aboriginal of wealth and outgo systems," Yellen said. "... due to the fact that the questions raised by integer assets often person important cross-border dimensions, we’ll enactment with our planetary partners to beforehand robust standards and a level playing field.
Yellen said the section would besides proceed its enactment with the Financial Stability Oversight Council, which convened past twelvemonth to sermon stablecoins. The radical published a study identifying stablecoins and decentralized concern arsenic 2 hazard areas for U.S. fiscal stableness past December.
The Treasury Department has overseen a fig of different efforts to sermon crypto regulations, astir notably a President's Working Group for Financial Markets study connected stablecoins. The study was published past twelvemonth and asked Congress to walk authorities giving national slope regulators explicit oversight jurisdiction for the stablecoin sector.
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Nikhilesh De is CoinDesk's managing exertion for planetary argumentation and regulation. He owns marginal amounts of bitcoin and ether.
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