Stablecoins the topic of discussion with the President’s Working Group.
Secretary Janet Yellen is convening a meeting on Monday with the President’s Working Group on Financial Markets to discuss the regulation of stablecoins. Members of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation will participate in the discussion.
“Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system,” Secretary Yellen said. “In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities.”
As the Lord Leads, Pray with Us…
- For government regulators as they assess the risks and benefits of this digital currency.
- For Secretary Yellen as she heads the Treasury Department.
- For wisdom for the president’s administration regarding the nation’s financial and currency needs.
Sources: AP, NPR
