2024

Million

Green

Ethereum Name Service

<div class="insidebitcoins">
 U.S. Treasury Secretary Janet Yellen is set to warn Congress of crypto industry hazards for the financial system that include runs on crypto-asset platforms and stablecoins.
 Yellen is appearing before the House Financial Services Committee on Feb. 6 to explain the latest work of the Financial Stability Oversight Council (FSOC), a group of&nbsp; financial agency heads that aims to head off future financial crises.&nbsp;
 In testimony prepared for delivery, Yellen highlighted “runs on crypto-asset platforms and stablecoins, potential vulnerabilities from crypto-asset price volatility, and the proliferation of platforms acting outside of or out of compliance with applicable laws,”&nbsp; and added that ”applicable rules and regulations should be enforced, and Congress should pass legislation to provide for the regulation of stablecoins and of the spot market for crypto-assets that are not securities.”
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 #HappeningNow: Chairman @PatrickMcHenry convenes the House Financial Services Committee on the annual report of the Financial Stability Oversight Council featuring testimony from @USTreasury Secretary Janet Yellen.
 📺 Tune in 🔗https://t.co/jNv7GiI4Qd pic.twitter.com/aCD6wlL0W8
 — Financial Services GOP (@FinancialCmte) February 6, 2024
 </blockquote>
 
 <h2 id="yellen-to-work-with-congress-on-crypto-legislation">Yellen To Work With Congress On Crypto Legislation</h2>
 The FSOC has paid special attention to crypto in recent years, and has also put digital assets among the top categories of potential worry. As such, Yellen said that she will keep working with Congress on crypto legislation.&nbsp;
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Why Janet Yellen Is About To Become Even More Powerful" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/06/ef534e2f2462146c3c33bd55c782e09b.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/06/ef534e2f2462146c3c33bd55c782e09b.webp" alt="Why Janet Yellen Is About To Become Even More Powerful">
 </noscript>
 Yellen initially drew regulatory attention to the crypto sector after she said in January 2021 that crypto has a high potential to make the financial system stronger.&nbsp; However, she expressed concerns around digital assets being used “mainly for illicit financing.”&nbsp;
 Other areas Yellen will focus on in her testimony include the banking sector, cybersecurity risks. and artificial intelligence in financial services. Member agencies enhancing assessment efforts and increasing coordination around climate-related financial stability risks were also highlighted in the report.
 <h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
 <ul>
 <li style="font-weight: 400;" aria-level="1">5 Top Crypto Presales 2024: Unveiling the Most Anticipated Opportunities!</li>
 <li style="font-weight: 400;" aria-level="1">El Salvador’s Bitcoin-Friendly President Nayib Bukele Heads For Re-Election</li>
 <li style="font-weight: 400;" aria-level="1">Ethereum Name Service Price Prediction: ENS Soars 13% After Deal With GoDaddy As This Green AI Presale Is Racing Towards $1 Million</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/treasury-secretary-janet-yellen-to-warn-congress-of-crypto-risks-to-the-financial-system-tbt79067.html">https://thebittimes.com/treasury-secretary-janet-yellen-to-warn-congress-of-crypto-risks-to-the-financial-system-tbt79067.html</a>
</div>

Treasury Secretary Janet Yellen To Warn Congress Of Crypto Risks To The Financial System

목차

TheBitTimes

2024년 2월 6일에 게재된 다른 기사

Aeternity Foundation Enhances Blockchain Ecosystem with Strategic Leadership and Partnerships

Hedera Secures $250 Million Partnership with Saudi Ministry of Investment for Web3 and Deep Tech ...

AI Expert Advocates Government Action Against Disinformation

Jupiter Price Prediction: Solana Token JUP Still In A Funk After 66% Crash, But Sponge V2 Launch ...

Exploring Crypto Hacks and Exploits in 2023: A Detailed Analysis

Ethereum Foundation explores strategies to reduce the maximum block size

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!