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Yellen to Lay Out Broad Principles for Regulation of Digital Assets

  • Yellen to Lay Out Principles for Regulation of Digital Assets
  • Treasury chief backs innovation, with protections for public
Janet Yellen on April 6

Janet Yellen on April 6

Photographer: Ting Shen/Bloomberg
Updated on

Treasury Secretary Janet Yellen said a digital dollar would take years to develop if the U.S. decides to proceed with one, underscoring a deliberate approach by American policy makers as they flesh out their regulatory plans to address the rapid spread of digital assets.

U.S. regulators are now engaged in a six-month review aimed at coming up with recommendations on a raft of issues linked to digital assets, including a digital version of the U.S. sovereign currency. The initiative was launched through an executive order by President Joe Biden.