{"id":428102,"date":"2022-04-07T19:45:00","date_gmt":"2022-04-07T16:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/treasury-secretary-hints-at-regulatory-framework-to-address-potential-risks-in-digital-asset-markets\/"},"modified":"2022-04-07T19:45:00","modified_gmt":"2022-04-07T16:45:00","slug":"treasury-secretary-hints-at-regulatory-framework-to-address-potential-risks-in-digital-asset-markets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/treasury-secretary-hints-at-regulatory-framework-to-address-potential-risks-in-digital-asset-markets\/","title":{"rendered":"# Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4097511cb09\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4097511cb09\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/treasury-secretary-hints-at-regulatory-framework-to-address-potential-risks-in-digital-asset-markets\/#%E2%80%9D_Treasury_Secretary_hints_at_regulatory_framework_to_address_potential_risks_in_digital_asset_markets_%E2%80%9C\" >&#8221; Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Treasury_Secretary_hints_at_regulatory_framework_to_address_potential_risks_in_digital_asset_markets_%E2%80%9C\"><\/span>&#8221; Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>United States Treasury Secretary Janet Yellen listed stablecoins as one of the major policy concerns in the digital asset space for regulators, currently subject to \u201cinconsistent and fragmented oversight.\u201d<\/p>\n<p>Speaking to attendees at American University in Washington, D.C. on Thursday, Yellen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=VPQiPFqFwOU\">said<\/a> the Treasury Department was working with Congress to advance legislation to help ensure that \u201cstablecoins are resilient to risks\u201d for consumers and the U.S. financial system. According to the Treasury Secretary, while stablecoins raised \u201cpolicy concerns\u201d and issues around the coins\u2019 reserve assets, many parts of the digital asset space present potential risks that could exacerbate inequality. <\/p>\n<p>\u201cOur regulatory frameworks should be designed to support responsible innovation while managing risks and especially those that could disrupt the financial system and the economy,\u201d said Yellen. \u201cAs banks and other traditional financial firms become more involved in digital asset markets, regulatory frameworks will need to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriately reflect the risks of these new activities. And new types of inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries such as digital asset exchanges and other digital native intermediaries \u2014 they should be subject to appropriate forms of oversight.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/943b9f7b-41a4-4848-bdb8-0980adc4972c.png\"><figcaption style=\"text-align: center;\"><em>Treasury Secretary Janet Yellen speaking at American University<\/em><\/figcaption><\/figure>\n<p>Yellen cited a report from the President\u2019s Working Group on Financial Markets released in November, which suggested that stablecoin issuers should be subject to \u201cappropriate federal oversight\u201d akin to that of traditional banks. She also raised concerns about the Federal Reserve issuing a central bank digital currency in the United States, saying the project would likely present a \u201cmajor design and engineering challenge\u201d that could take \u201cyears of development.\u201d<\/p>\n<p>&#8220;I share the President\u2019s urgency in pulling forward research to understand the challenges and opportunities a CBDC could present to American interests,&#8221; said Yellen.<\/p>\n<p>Addressing the regulatory challenges posed by digital assets seems to be a key policy issue for U.S. President Joe Biden, who in March signed an executive order\u00a0to study implementing a comprehensive regulatory framework for crypto. Yellen said the Treasury Department would be working with the White House and other government agencies over the next six months to \u201cproduce foundational reports\u201d related to policy recommendations for mitigating both systemic and consumer risks around digital assets.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Treasury to launch financial education initiative around crypto investments<\/em><\/strong><\/p>\n<p>The Treasury Secretary\u2019s speech came following a Wednesday appearance at the House Financial Services Committee, at which she testified the department had not seen significant cases of Russian individuals and entities named in recent sanctions using cryptocurrency to evade the financial restrictions. The Department of the Treasury\u2019s Office of Foreign Assets Control announced Tuesday it was imposing sanctions on virtual currency exchange Garantex and darknet marketplace Hydra.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/treasury-secretary-hints-at-regulatory-framework-to-address-potential-risks-in-digital-asset-markets\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets &#8220; United States Treasury Secretary Janet Yellen listed stablecoins as one of the major policy concerns in the digital asset space for regulators, currently subject to \u201cinconsistent and fragmented oversight.\u201d Speaking to attendees at American University in Washington, D.C. on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZTA1ZGUzMmUtMDgwNy00OTcyLWEwZmYtNTk0YTIyNmFlODExLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[81188,75493,71511,55229,70934,67874],"class_list":["post-428102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-janet-yellen","tag-stablecoin","tag-government","tag-law","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=428102"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428103"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}