US Treasury official beckons new stablecoin regulations

[trendcoin]

“If Congress does not enact legislation, the regulators will try to use what authority they have,” stated the U.S. Treasury official Nellie Liang.

The United States Treasury made further hints at new laws for stablecoins on Friday. Nellie Liang, the undersecretary of the Treasury for domestic finance, fueled more stablecoin regulation speculation with comments on investors' "potentially big risk" when using stablecoins.

Following on from the Financial Stability Oversight Council's November 2021 report on stablecoins, the top official for financial oversight at the U.S Treasury stated that “If Congress does not enact legislation, the regulators will try to use what authority they have.”

The Treasury has limited powers as broad strokes stablecoin regulation is not possible without the backing of a congressionally-mandated authority. “They can do a little here and a little there, but if these are foundational to crypto-assets and they aren’t stable, that could potentially be a big risk,” Liang stated of regulators’ powers.
https://cointelegraph.com/news/us-treasury-official-beckons-new-stablecoin-regulations