• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

US Treasury Secretary Janet Yellen will meet to examine stablecoin troubles

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

President Biden’s treasury secretary will convene a meeting of the president’s functioning group on monetary markets upcoming week.

US Treasury Secretary Janet Yellen will meet to discuss stablecoin issues
US Treasury Secretary Janet Yellen will meet to examine stablecoin troubles

As government officials proceed to sound the alarm about stablecoins, Treasury Secretary Janet Yellen will meet with regulators upcoming week to “discuss cross-industry work” on cryptocurrency markets, which are capital cities that are more and more attracting consideration in Washington. .

Related articles

Layer-2 Blast requires $20 million in capital, aiming to raise interest rates for ETH and stablecoin holders

Layer-two Blast necessitates $twenty million in capital, aiming to increase curiosity prices for ETH and stablecoin holders

November 21, 2023
New York issues guidelines for listing and delisting cryptocurrencies

New York problems suggestions for listing and delisting cryptocurrencies

November 16, 2023

The president’s functioning group on monetary markets will meet on Monday 19 July. Expectations include things like Yellen, Securities and Exchange Commission Chairman Gary Gensler, Federal Reserve Chairman Jerome Powell, and Interim Commodity Futures Trading Commission Chairman Rostin Behnam.

A stablecoin is a cryptocurrency “tied” to a different currency, generally a bodily currency this kind of as the USD. The concept is that the worth of the coin stays “stable” at the precise price tag of the pegged currency, even though in practice this is not normally the situation, thanks to the unpredictable market place ailments of broader cryptocurrencies. However, not like Bitcoin, which can eliminate twenty% of its worth on a notably poor day, stablecoins generally only fluctuate by a compact percentage.

Tether (USDT), a stablecoin pegged to the US dollar, is now the third greatest cryptocurrency by market place capitalization Many cryptocurrency exchanges provide exchanges towards Tether, rather than USD, as a way to steer clear of dealing with fiat currency.

But the business behind USDT has faced concerns about its organization and whether or not the charge is in fact supported by the US dollar. The company’s original statement – that each and every launched Tether is supported one: one by “conventional currency”- turned out to be false. Instead, Tether is mostly backed by business paper or brief-phrase debit to unspecified events.

Tether, which was hardly ever thoroughly verified, also faced legal action for its escape: following a lawsuit and subsequent investigation by the New York Attorney General’s Office, the business fined $ 18.five. million for “reckless and illegal cover-up causing large financial losses“.

In a current Congressional hearing, Jerome Powell utilized Tether as an illustration of why stablecoins are topic to closer scrutiny:

“If they become an important part of the payments universe, which we don’t think will be cryptocurrencies, but stablecoins could be, then we need a proper regulatory framework, but frankly we don’t have one.”

Synthetic Currency 68

Maybe you are interested:

Join the chat group Coinlive Chats Now let us examine the scorching subjects of the DeFi market place with the Coinlive administrators !!!

.

Tags: discussGeneral NewsissuesJanetmeetSecretarystablecoinTreasuryYellen
Share76Tweet48

Related Posts

UK Gold Miner Bluebird Ventures Embraces Bitcoin Treasury Strategy

by shark
June 6, 2025
0

Bluebird Mining Ventures shifts from gold revenue to Bitcoin treasury, impacting market dynamics.

Trump Advisor Meets El Salvador President Over Bitcoin Strategy

by shark
June 6, 2025
0

Trump's advisor Bo Hines meets El Salvador's Nayib Bukele to discuss Bitcoin policy impacts.

Bitcoin’s Quiet 2025 Could Signal Major Crypto Shift

by shark
June 6, 2025
0

Bitcoin experiences calm trading in 2025, analysts foresee pivotal crypto changes ahead.

California Assembly Advances Bill on Dormant Crypto Assets

by shark
June 5, 2025
0

California's State Assembly approves AB-1052, designating long-inactive crypto assets as unclaimed property.

BlackRock ETF Leads Bitcoin Inflow with $284 Million

by shark
June 5, 2025
0

Spot Bitcoin ETFs see $87M net inflow, BlackRock's IBIT leads with $284M.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • BlockDAG Hits $287M, AVAX Eyes $300 & BCH Climbs,
  • HYPE Holds Support, PEPE Sentiment Surges; Unstaked Eyes $1 Milestone!
  • BlockDAG, SHIB, Stellar, and TRON: June’s Top Bullish Crypto Picks
  • UK Gold Miner Bluebird Ventures Embraces Bitcoin Treasury Strategy
  • Trump Advisor Meets El Salvador President Over Bitcoin Strategy
  • Qubetics, Solana, Stellar: Massive Updates and $900M Moves Set Stage for Next Bull Run Crypto
  • Bitcoin’s Quiet 2025 Could Signal Major Crypto Shift
  • California Assembly Advances Bill on Dormant Crypto Assets
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7