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US Treasury calls for urgent legislation on stablecoins
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finextra.comthe report note, related to the potential for destabilising runs, disruptions in the payment system, and concentration of economic power.“The absence of appropriate oversight presents risks to users and the broader system,” says Secretary of the Treasury Janet L. Yellen.
“Current oversight is inconsistent and fragmented, with some stablecoins effectively falling outside the regulatory perimeter. Treasury and the agencies involved in this report look forward to working with Members of Congress from both parties on this issue.
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