From Investing.com:

Treasury Secretary Janet Yellen is calling on Congress to regulate stablecoin issuers and wallet providers to protect consumers and financial stability. Yellen highlighted the need for formal regulatory authority over stable coins and the spot market for crypto-assets during a hearing with the U.S. House of Representatives Financial Services Committee. The move aims to close gaps in consumer protection and financial stability protections.



Read more: Yellen says Congress should provide authority to regulate stablecoins By Reuters