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A Backdoor Regulatory Option Haunts U.S. Crypto

If all else fails with Plan A for setting up stablecoin rules with legislation, the industry's Republican allies in Washington have revealed their worry the Federal Reserve could step in.

By Jesse Hamilton|Edited by Nikhilesh De

Updated Jan 29, 2024, 1:00 p.m. Published Jan 29, 2024, 1:00 p.m.

Treasury Secretary Janet Yellen chairs the Financial Stability Oversight Council, which has warned it might take action on stablecoins if Congress doesn't. (Samuel Corum/Getty Images)