United States Treasury Secretary Janet Yellen stated on Thursday that US President Biden is working on a "comprehensive framework" for reducing the market risks of digital assets such as stablecoin.
"I think that creating a framework that is appropriate to the risks that stablecoin presents really provides the kind of certainty about the regulatory environment that issuers of stable coins need to thrive and innovate," Yellen noted.
She also noted that Biden's working group considered numerous alternatives before recommending the "establishment of a bank framework" involving appropriate "capital and liquidity requirements" in which digital asset payment system risks could be addressed.
