Cryptocurrencies
Stablecoins’ Primacy Drives Rules Campaign, Treasury’s Liang Says
- Labels stablecoins as ‘foundational’ to crypto industry
- President’s Working Group report expected in coming weeks
Photographer: Andrew Harrer/Bloomberg
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Treasury Undersecretary for Domestic Finance Nellie Liang said U.S. financial regulators have focused on stablecoins because of the central role they’ve begun playing in the world of cryptocurrencies.
“We believe they’re kind of foundational to crypto and future crypto services,” Liang said Thursday during a virtual event sponsored by the Institute of International Finance.