Treasury’s Yellen to Deliver First Speech on Crypto in U.S. Economy

On Thursday, April 7, U.S. Treasury Secretary Janet Yellen will discuss cryptocurrency policy and regulation in a speech in Washington, D.C.

In her first official speech on the subject, Yellen will reveal her thoughts on the crypto industry, focusing on digital assets.

Yellen intends to explain how the Treasury Department considers cryptocurrencies an emerging part of the U.S. economy. It is expected that the speech will reflect President Biden’s executive order in regards to pushing for more regulation on the indsutry.

“Secretary Yellen will make the case for a consistent and comprehensive policy framework that promotes responsible innovation of digital assets and appropriately assesses and mitigates the risks they may pose,” according to a Tuesday statement issued by the Treasury Dept.

The federal government has been paying much more attention to crypto since 2021, specifically stablecoins. U.S. regulators are looking to Congress to construct rules to govern stablecoin issuers in the same way the government oversees banks. Securities and Exchange Commission and the Federal Reserve have a backup plan if lawmakers cannot produce results by leaning on the Financial Stability Oversight Council.

U.S. Treasury Secretary Janet Yellen’s speech will take place on Thursday at American University in Washington, D.C. at 10:30 a.m. E.T.

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