Yellen Says Stablecoins Require Proper Regulations


U.S. Treasury Secretary Janet Yellen said stablecoins could lead to greater efficiencies and contribute to easier payments, but required proper regulation.

  • “There are significant risks associated with them including risks to payment systems and risks related to the concentration of economic power,” she said.
  • Yellen and Federal Reserve Chairman Jerome Powell testified before a House panel Tuesday.
  • During the discussion Powell said inflationary pressures remain high.
  • “It is time to retire the word ‘transitory’ regarding inflation.”

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