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Crypto meltdown prompts Yellen to call for new regulation
Treasury Secretary Janet Yellen, responding to the recent sharp decline in the value of cryptocurrencies, said Thursday that additional federal regulation was needed to respond to the wave of speculative investment in the currency whose secrecy is an essential part of its appeal. “We really need a regulatory framework to guard against the risks,” Yellen said of cryptocurrencies called stable coins, during a House committee hearing Thursday. Citing the rapid rise in use of digital assets, she added, “Really, we need a comprehensive framework so that there are no gaps in the regulation.” Stable coins are a type ... (full story)
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- Posted: May 12, 2022 7:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 128
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