The post Yellen’s Double Standard: Calls for Clear Crypto Rules while Addressing Crypto as Risk? appeared first on Coinpedia Fintech News
With the economy looming large in the 2024 election, U.S. Treasury Secretary Janet Yellen will appear before the House Financial Services Committee Today to explain the latest work of the Financial Stability Oversight Committee (FSOC).
According to a brief excerpt of Yellen’s testimony released on Monday, she will tell Congress that the crypto industry poses several potential dangers to the financial system, including the dangers of stablecoins, runs on crypto platforms, and price volatility.
With the government set to bring clear rules if Congress fails to address them, Yellen has issued a dire warning of what could happen if action is not taken.
Key Topics to Discuss
In today’s testimony, Yellen will highlight the financial sector’s increasing adoption of AI, acknowledging its potential to cut costs and boost efficiency but stressing t
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