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Biden Administration to Congress: Put Stablecoins Under Federal Supervision – Or We Will
If U.S. lawmakers don’t act, regulators have the authority to take their own measures, according to the long-awaited report from the President’s Working Group on Financial Markets.
Par Nikhilesh De
![LEGISLATE, PLEASE: “The current regulatory framework isn’t set up to address some of the new kinds of risks that [stablecoins] could pose,” says Treasury Under Secretary Nellie Liang. (Andrew Harrer/Bloomberg via Getty Images)](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fstaging%2Fa8c4cb4f621ed865d50afefce21ce3dbbf009d39-3000x1999.jpg%3Fauto%3Dformat&w=3840&q=75)