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The Financial Stability Oversight Committee (FSOC), chaired by U.S. Treasury Secretary Yellen, will meet on September 23 to discuss regulatory loopholes in digital currencies and the potential risks they pose. (Read More)
On Feb 6th, U.S. Treasury Secretary Janet Yellen, in her testimony before Congress, highlighted the multifaceted risks posed by the cryptocurrency industry to the financial system, underscoring the urgency for regulatory oversight and legislation. Addressing the House Financial Services Committee, Yellen emphasized the concerns surrounding stablecoins, potential runs on crypto platforms, and the volatile nature […]
In its 2024 annual report, the FSOC said that stablecoins are acutely vulnerable to runs absent appropriate risk management standards.
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