As authorities begin to take more notice of the rapidly expanding class of digital currencies, U.S. Treasury Secretary Janet Yellen stated on Friday that she would meet with regulators tomorrow to discuss “interagency cooperation” on stablecoins.
On Monday, the President’s Working Group on Financial Markets will gather with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to discuss the benefits and risks of stablecoins, a type of cryptocurrency that is pegged to more traditional assets, like fiat currencies such as the dollar.
In the statement, Yellen declared:
“Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system.”
