US Treasury Secretary Janet Yellen called for legislation to comprehensively regulate cryptocurrency markets.
US Treasury Secretary Janet Yellen 6 February He made statements before the House Financial Services Committee on Tuesday. Yellen, cryptocurrency markets In order to comprehensively control He emphasized that a law should be passed. In addition stablecoins He reiterated his view that it poses a risk to financial markets.
On the other hand, deputies affiliated with the commission said to Yellen, Securities and Exchange Commission (SEC) with Commodity Futures Trading Commission (CFTC) He raised questions about the coordination between Both institutions have made conflicting statements about whose jurisdiction cryptocurrencies are in the past period. MPs on the issue until February 20 He stated that they were waiting for an answer:
Despite identifying these gaps, regulators have failed to facilitate an environment that ensures consumer protection and encourages cryptocurrency innovation in the United States.
Yellen roughly answered these questions during her speech, saying that the CFTC does not have regulatory authority over spot markets and therefore creates a regulatory vacuum told:
There are many areas where we have clear regulatory authority regarding cryptocurrencies, but we have identified some gaps where it would be very helpful for Congress to take action to fill them to protect consumer investors and address financial stability risks.