WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday referred to as for Congress to offer federal authority to manage stablecoin issuers and pockets suppliers to shut gaps in shopper and monetary stability protections. mentioned.

Yellen mentioned throughout a listening to of the U.S. Home Monetary Companies Committee that the Monetary Stability Oversight Council and the President's Process Pressure on Monetary Markets have recognized the spot marketplace for stablecoins and non-securities as an space in want of formal regulation. He mentioned he had recognized it.