JPMorgan has expressed concerns about the increasing concentration in Tether ($USDT), viewing it as a negative development for the stablecoin universe and the wider crypto markets, as reported by Will Canny. Concurrently, U.S. Treasury Secretary Janet Yellen has highlighted the risks cryptocurrencies pose to financial stability. In her congressional testimony, reported by Jesse Hamilton, Yellen called for enhanced crypto regulation and urged Congress to act. She suggested that a federal regulator should have the authority to prevent certain stablecoin issuers from operating if necessary and identified significant regulatory gaps in stablecoins and crypto spot markets. Yellen's push for a federal regulator oversight comes amid a broader discussion on the need for legislation on 'non-security' tokens and the regulatory oversight of digital assets.
U.S. Congress members have challenged Treasury Secretary Janet Yellen's call for stronger crypto regulation, pointing out the Howey Test's shortcomings in consumer protection in a recent letter https://t.co/byxiasKoDi
ICYMI: Republicans probe Treasury Secretary Janet Yellen on regulatory gaps in spot crypto markets https://t.co/mnDNmhtOre
Treasury Secretary Yellen Says U.S. Needs Better Stablecoin Regulation #Tether $COIN https://t.co/1UBJgt1xQL via @coindesk
Republicans probe Treasury Secretary Janet Yellen on regulatory gaps in spot crypto markets https://t.co/IAB8Bjf7Se
π£ Latest News: US Treasury Secretary calls for federal regulator to oversee stablecoins #news #cryptonews #crypto #stablecoins #regulations
US Treasury Secretary Calls For Crypto Legislation On βNon-Securityβ Tokens βΊ https://t.co/8XWXbxQOhM https://t.co/8XWXbxQOhM
Yellen says stablecoins and crypto spot markets are two areas with significant regulatory gaps in the US https://t.co/KsU6SldZDL
"A federal regulator should have the ability to decide if a stablecoin issuer should be barred from issuing such an asset," U.S. Treasury Secretary Janet Yellen told lawmakers on Tuesday. @jesseahamilton reports https://t.co/uE6XLXnqLc
β YELLEN: FED SHOULD BE THE REGULATOR FOR FINANCIAL COMPANIES THAT POSES SEVERE THREATS TO FINANCIAL STABILITY
NEW: πΊπΈ Treasury Secretary Yellen warns Congress of digital assets risks in her statement before today's hearing https://t.co/ZjCkNcdsFh
β YELLEN: WOULD WELCOME EFFORT BY CONGRESS TO CREATE REGULATORY FRAMEWORK TO ADDRESS RISKS TO FINANCIAL SYSTEM FROM STABLECOINS
β YELLEN SAYS WE HAVE IDENTIFIED GAPS IN DIGITAL ASSET REGULATION WHERE IT WOULD BE HELPFUL FOR CONGRESS TO ACT
#JPMorgan has warned of increased risk for the #crypto market resulting from #Tether's "lack of regulatory compliance and transparency." https://t.co/zzWUwzCyAi
Janet Yellen Calls for Crypto Regulation in Congressional Testimony, Citing Financial System Risks #cryptoregulation #yellen https://t.co/jffRFbhJ5l
A fabulously wealthy failed bank-regulator ideologue - whose dangerous monetary ideology was the major impetus for the π€π³π¦π’π΅πͺπ°π― of Bitcoin - warns about crypto. Janet Yellen is a systemic risk to financial stability. @SecYellen https://t.co/Py56rUtGRT
#JPMorgan Warns of Increased Risk for #Crypto Market Due to #Tether's 'Lack of Regulatory Compliance and Transparency' https://t.co/zzWUwzCyAi
U.S. Treasury @SecYellen is set to warn House lawmakers about crypto hazards to financial stability. @jesseahamilton reports https://t.co/q2cDATgT88
.@jpmorgan says the increasing concentration in $USDT over the past year is negative for the stablecoin universe and wider crypto markets. @willcanny99 reports https://t.co/CSLmTzc4W7