current position：Home>US Treasury Secretary Yellen hopes to promote regulation of the stable currency by the end of the year
US Treasury Secretary Yellen hopes to promote regulation of the stable currency by the end of the year
2022-05-15 04:31:18【Sina Finance blockchain】
As a long-standing hot topic on the topic list inside and outside Capitol Hill , The US Treasury Department is trying to 2022 Promote strict supervision of the stable currency before the end of the year . Earlier this week , US Treasury Secretary Janet · Yellen （Janet Yellen） This was reiterated in the annual address of the Senate Banking Committee . meanwhile ,Terra Because its algorithm is stable （UST） I'm busy breaking off the anchor with the dollar .
Yellen said —— New products and technologies may bring opportunities to promote innovation and improve efficiency , But digital assets may cause risks and shocks to the financial system —— Therefore, it calls for strengthening coordination and regulatory attention .
For Senators Pat Toomey and Catherine Cortez Masto The question of , She replied —— stay 2022 It will be necessary to implement the supervision of stable currency before the end of the year , Because of its many risks associated with cryptocurrency .
So , Yellen suggested a consistent federal framework , And sincerely look forward to working with members of Congress , To promote legislation to achieve this goal .
At the beginning of design ,“ Stable currency ” We are committed to maintaining the link with external assets such as the US dollar . Although every stable currency in circulation has 1 The equivalent of US dollars to support , But recent market trends , It still hurt the confidence of investors .
Stabilize the currency with algorithm UST For example , Its presence 5 month 9 Japan （ This Monday ） Once fell as high as 35% —— Although theoretically , It should have maintained a constant balance with the dollar 1：1 exchange rate .
Yellen added ：TerraUSD The stable currency experienced a sharp decline and devaluation , As a fast-growing product , This has pointed out that there are related risks .
Even if UST After Monday's sharp fall, it rebounded to 0.91 dollar , But it has not fully recovered to 1：1 Fully anchored state of .
even so , Implement encrypted tokens LUNA And UST Of Terraform Labs founder Do Kwon Or in a tweet ,LFG Coming soon $UST Your recovery plan , But did not share the exact Timetable .
In addition, the Federal Reserve is 5 month 9 A report on the th said ：“ The stable currency industry continues to maintain rapid growth , But there are still liquidity risks ”.
2022 year 3 month , The total value of the stabilization currency has soared to 1800 Around $100 million , And Tether、USDC and Binance USD Accounting for more than 80% of the total market value .
Last , Yellen said the US Treasury Department plans to “ Soon ” Release a report on cryptocurrency and stable currency , And plan to 2022 Linked assets before the end of the year “ Tailor made ” Relevant laws and regulations .（cnBeta）
editor ： Zhang Jingdi
author[Sina Finance blockchain],Please bring the original link to reprint, thank you.
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