US Treasury Secretary Janet Yellen pushes for stablecoin regulation by end of year

Stablecoins have been a hot topic both on and off Capitol Hill. Earlier today, U.S. Treasury Secretary Janet Yellen pushed for regulation during an annual testimony in front of the Senate Banking Committee, at a time where Terra’s algorithmic stablecoin UST struggles to retain its peg.
“New products and technology may present opportunities to promote innovation and increase efficiencies,” Yellen said. “However, digital assets may present risks to the financial system and increased and coordinated regulatory attention is necessary.”
In response to questions from Senator Pat Toomey and Senator

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