Yellen says U.S. must move quickly to establish stablecoin rule framework

Tuesday, July 20, 2021
Yellen urges quick U.S. adoption of stablecoin rules © Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill, in Washington, DC, U.S., June 23, 2021. Shawn Thew/Pool via REUTERS/

By Pete Schroeder

WASHINGTON (Reuters) -Treasury Secretary Janet Yellen told regulators Monday that the U.S. government must move quickly to establish a regulatory framework for stablecoins, a rapidly growing class of digital currencies.

A group of U.S. regulators plans to issue recommendations in the coming months for fixing any regulatory gaps around stablecoins, the Treasury Department said in a statement.

Monday's meeting of the President's Working Group on Financial Markets, which convenes top financial watchdogs, underscores how quickly policymakers are moving to ensure their rules can keep up with rapid technological changes across digital currencies.

The group discussed the rapid growth of stablecoins, which are cryptocurrencies that attempt to peg their values to a conventional currency, like the U.S. dollar, according to the Treasury. Regulators discussed their potential uses, as well as risks to end users and the financial system.

Fed Chair Jerome Powell told lawmakers during congressional hearings last week that stablecoins are "growing incredibly fast" but pointed to their lack of appropriate regulation as a point of concern.

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28-07-2021 14:08:53 (UTC+7)

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 EUR/USD1.1810Neutral
 GBP/USD1.3885↑ Buy
 USD/JPY109.83↑ Sell
 AUD/USD0.7355↑ Sell
 USD/CAD1.2580↑ Buy
 EUR/JPY129.71Neutral
 EUR/CHF1.0809↑ Sell
 Gold1,804.55↑ Buy
 Silver24.858↑ Buy
 Copper4.5525Sell
 Crude Oil WTI72.06↑ Buy
 Brent Oil73.87Neutral
 Natural Gas3.889↑ Sell
 US Coffee C204.93↑ Buy
 Euro Stoxx 504,072.93Buy
 S&P 5004,401.46↑ Buy
 DAX15,545.10Buy
 FTSE 1006,994.25Sell
 Hang Seng25,408.37↑ Buy
 Small Cap 20002,189.73↑ Buy
 IBEX 358,703.00↑ Buy
 BASF66.890↑ Buy
 Bayer50.41Neutral
 Allianz211.10Neutral
 Adidas309.27Sell
 Lufthansa10.001↑ Buy
 Siemens AG132.81↑ Sell
 Deutsche Bank AG10.966Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,715
(0/ 0) # 689
SJC HCM5,650/ 5,720
(-10/ -10) # 695
SJC Hanoi5,650/ 5,722
(-10/ -10) # 697
SJC Danang5,650/ 5,722
(-10/ -10) # 697
SJC Nhatrang5,650/ 5,722
(-10/ -10) # 697
SJC Cantho5,650/ 5,722
(-10/ -10) # 697
Cập nhật 28-07-2021 14:08:55
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Sản phẩmVùng 1Vùng 2
RON 95-IV2178022210
RON 95-II,III2168022110
E5 RON 92-II2049020890
DO 0.05S1637016690
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Dầu hỏa1539015690
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GBP31.128,4532.428,70
JPY204,22214,93
KRW17,2420,98
Cập nhật lúc 14:04:54 28/07/2021
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