Treasury's Janet Yellen: 'No One Can Assure You' Stablecoins Can Be Redeemed

From decrypt.co

U.S. Treasury Secretary Janet Yellen’s stance on cryptocurrencies has softened, but there was still plenty of skepticism during her speech on digital assets at American University this morning. Yellen laid out federal regulators' plans for reckoning with the possibility of reduced reliance on centralized intermediaries, like banks and credit card companies. She also restated her concerns regarding stablecoins. “Most issuers say that they back their coins with traditional assets that are safe and liquid. In this way, whenever you want to trade your stablecoin back into dollars, the company has the money to make ... (full story)