US Treasury to Support Digital Dollar Project

US Treasury Secretary Janet Yellen represents the crypto regulation camp and she periodically states the need to protect investors and ensure transparency in the digital currency market.

She again spoke last Wednesday in favor of the speedy legalization of the blockchain industry. She recalled that the collapse of the Terra ecosystem and its stablecoin UST in May 2022 dealt a big blow to investors.

It is possible to protect people who have invested their capital in digital assets only through the implementation of the regulatory framework. The Treasury Department is ready to work with Congress to speed up the development of legislation.

In addition, the head of the financial department has supported the project to create a digital dollar (CBDC). Yellen believes this tool will solve many problems, but there is no need to rush to launch the token. It is necessary to analyze all the possible consequences of creating a digital dollar in order to minimize risks for the economy.

staff
yourcryptostop.com