Yellen Pushes for Stablecoin Oversight as Financial Risks Mount
- Yellen calls for stronger crypto oversight to tackle financial vulnerabilities and stablecoin risks
- FSOC highlights rising commercial real estate stress and private credit transparency challenges
- AI in finance needs regulation as FSOC pushes for expertise to manage technological risks
U.S. Treasury Secretary Janet Yellen has renewed her call for stricter regulation of crypto assets and stablecoins, citing the need to address vulnerabilities in the financial system.
Speaking at the Financial Stability Oversight Council’s (FSOC) final meeting of the year, Yellen highlighted the dual impact of digital asset innovation. While it provides market benefits, it also raises significant risks like cybersecurity threats and operational challenges.
Yellen warned that the rapid pace of digital asset innovation outstrips existing regulatory frameworks. She urged the FSOC to prioritize developing federal policies for stablecoin holders and pushed for legislative measures to reduce risks tied to digital currencies.
Commercial Real Estate Risks
Yellen also pointed to ongoing pressures in the commercial real estate (CRE) sector as another priority for regulators…
The post Yellen Pushes for Stablecoin Oversight as Financial Risks Mount appeared first on Coin Edition.
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Yellen Pushes for Stablecoin Oversight as Financial Risks Mount
- Yellen calls for stronger crypto oversight to tackle financial vulnerabilities and stablecoin risks
- FSOC highlights rising commercial real estate stress and private credit transparency challenges
- AI in finance needs regulation as FSOC pushes for expertise to manage technological risks
U.S. Treasury Secretary Janet Yellen has renewed her call for stricter regulation of crypto assets and stablecoins, citing the need to address vulnerabilities in the financial system.
Speaking at the Financial Stability Oversight Council’s (FSOC) final meeting of the year, Yellen highlighted the dual impact of digital asset innovation. While it provides market benefits, it also raises significant risks like cybersecurity threats and operational challenges.
Yellen warned that the rapid pace of digital asset innovation outstrips existing regulatory frameworks. She urged the FSOC to prioritize developing federal policies for stablecoin holders and pushed for legislative measures to reduce risks tied to digital currencies.
Commercial Real Estate Risks
Yellen also pointed to ongoing pressures in the commercial real estate (CRE) sector as another priority for regulators…
The post Yellen Pushes for Stablecoin Oversight as Financial Risks Mount appeared first on Coin Edition.
Read More
South Korea Explores Won Stablecoin as Bank of Korea Prioritizes Caution