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REGISTER NOW WASHINGTON Biden administration officials met with U.S. financial regulators Monday to discuss a path forward for regulating stablecoins in light of the rapid growth in the digital asset space. At the meeting, Treasury Secretary Janet Yellen urged meeting participants to “act quickly to ensure there is an appropriate U.S. regulatory framework in place” to address the risks associated with stablecoins, according to a statement from the Treasury Department. While few details were made available about the issues discussed at the meeting, the Treasury Department said that staffers gave a presentation in preparation of a report on stablecoins a type of digital currency that is pegged to normal currency such as the U.S. dollar that the president’s working group on financial markets plans to release in the upcoming months.

United statesRostin behnamJerome powellJanet yellenMichael hsuNellie liangGary genslerJelena mcwilliamsRandal quarlesExchange commissionCommodity futures trading commissionTreasury departmentHouse financial services committeeDeposit insurance corpFederal reserveTreasury secretary janet yellen