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US Treasury Secretary Janet Yellen once again calls for stricter regulation of cryptocurrency and stablecoins, and points out the need to address vulnerabilities in the financial system. Yellen emphasized the dual impact of digital asset innovation at the last meeting of the Financial Stability Oversight Council (FSOC) this year. Although it has brought benefits to the market, it has also brought significant risks such as cybersecurity threats and operational challenges. Yellen warns that the speed of digital asset innovation exceeds the existing regulatory framework. She urged the Financial Stability Oversight Council to prioritize the development of federal policies targeting stablecoin holders and push for legislative measures to reduce risks associated with digital currencies. @gogiman
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