The Financial Stability Oversight Council, chaired by Treasury Secretary Janet Yellen, will meet Sept. 23 to work on its report regarding regulatory gaps for digital assets and potential risks posed by them.
The report from the group of U.S. regulators is the last outstanding piece of a broader framework from the Biden administration that represents the first attempt to harmonize the approach of federal agencies towards digital currrencies.
The President's Working Group on Financial Markets, another convention of multiple regulators led by the Treasury, recommended last fall to give FSOC authority over stablecoins should Congress fail to pass legislation governing them.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.