The Financial Stability Oversight Council (FSOC), under the US Treasury Department, will meet next week to discuss the gaps in digital asset regulations.
FSOC September 23 US Secretary of the Treasury Janet Yellen will determine the regulatory gaps on digital assets. Generally to systemic financial risks Focusing Committee, regulatory gaps can cause potential systemic risks will meet to work on it.
with traditional financial markets increased integration taking into account unregulated digital asset in traditional markets to systemic crises likely to cause high looks. Biden administration, regulation of digital assets and their relationship with federal agencies conducts extensive research on However, between regulators to disagreements It looks like no solution has been found yet. Sides more rigid regulations and flexible, compliant fluctuates between regulations.
The President’s Financial Markets Working Group, on the other hand, would argue if Congress fails to pass legislation on stablecoins. authorize the FSOC over stablecoins recommends. FSOC’s latest report on stablecoins in December 2021 However, the Biden administration stated that the report did not include any proposals for congressional action. had not taken action.