The meeting of the president’s working group has come to an end. On Monday, the US President’s Working Group on Financial Market came together. The goal: discussing stablecoins! And the “who is who” of US regulators and officials attended this meeting.
In attendance were:
- Janet L. Yellen, Secretary of the Treasury
- Jerome Powell, Chair, Board of Governors of the Federal Reserve System
- Gary Gensler, Chair, Securities and Exchange Commission
- Rostin Behnam, Acting Chairman, Commodity Futures Trading Commission
- Jelena McWilliams, Chairman, Federal Deposit Insurance Corporation
- Michael J. Hsu, Acting Comptroller of the Currency
- Randal Quarles, Vice Chair for Supervision, Board of Governors of the Federal Reserve System
- J. Nellie Liang, Under Secretary for Domestic Finance, U.S. Department of the Treasury
Today, the U.S. Department Of The Treasury published the meeting’s readout.
Janet Yellen highlighted the need to act quickly to ensure there is an appropriate U.S. regulatory framework in place.
And the Treasury staff also held a presentation on the preparation of a report on stablecoins. This report will discuss the potential benefits and risks of stablecoins, the current U.S. regulatory framework, and more.
So, there is a report coming up soon.
But one thing is for sure: U.S. regulators and officials have stablecoins on their radar!