As government officials continue to raise the alarm about stablecoins, Treasury Secretary Janet Yellen will meet with regulators next week to “discuss interagency work” around the crypto niche, which is increasingly drawing attention in Washington.
The President’s Working Group on Financial Markets will convene on Monday, July 19th. It comprises Yellen, Securities and Exchange Commission Chair Gary Gensler, Federal Reserve Chairman Jerome Powell, and the Acting Chair of the Commodity Futures Trading Commission Rostin Behnam.
A stablecoin is a kind of cryptocurrency that’s “pegged” to another currency, usually a physical one such as the dollar. The idea is that the value of the coin stays “stable” at the exact price of the pegged currency, though this isn’t always true in practice, thanks to the unpredictable conditions of the broader crypto market. Still, unlike Bitcoin, which might lose 20% of its value on a particularly bad day, stablecoins typically only fluctuate
Źródło: https://decrypt.co/76207/yellen-assemble-regulators-stablecoin-concerns
