US Treasury to launch formal review on stablecoins, Tether scrutinized ahead of oversight talks

From fxstreet.com

The Treasury Department and other financial regulators in the United States have been scrutinizing stablecoin operators under Secretary Janet Yellen. Tether and other stablecoins are deemed the most urgent risks by Treasury officials. US regulators are preparing to clamp down on the digital asset industry as officials will discuss launching a formal review into stablecoins. The United States Treasury Department is preparing to present a report to the President’s Working Group for Financial Markets on stablecoin risks. The report is expected to set the framework for a new approach to the crypto asset industry in the ... (full story)