Treasury official behind stablecoin report to testify at Senate hearing next week

The Senate Banking Committee has released details ahead of its upcoming hearing on stablecoins, confirming the Treasury's Under Secretary for Domestic Finance Nellie Liang as its sole witness.

The Senate will meet at 10 AM EST on February 15 for a hybrid hearing entitled "Examining the President’s Working Group on Financial Markets Report on Stablecoins." As the title promises, legislators will take a closer look at the November stablecoin report out of the Presidents Working Group (PWG), which urged Congress to limit stablecoin issuance to insured depository institutions.

Nellie Liang is slated to testify, confirming a previous report by The Block. Liang has spearheaded much of the Treasury's recent work on stablecoins, including the PWG report.

Liang is also testifying at Monday's stablecoin hearing in the House, entitled, "Digital Assets and the Future of Finance: The President’s Working Group on Financial Markets’ Report on Stablecoins.”