Donald Trump’s Working Group on Financial Markets Evaluates Stablecoins

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Donald Trumps Working Group on Financial
Markets Evaluates Stablecoins

• The Presidential Advisory Group shows commitment
  to regulate stable digital assets.

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• Trumps Working Group on Financial Markets (PWG)
  released a statement yesterday to outline the
  regulatory and supervisory developments on
  stablecoins. Members of the PWG including
  Treasury Deputy Secretary, Justin Muzinich
  welcomed further discussions on the regulatory
  framework for stablecoins.
• According to an official press release by the US
  Treasury Department, the PWG members recognized
  the potential of cryptocurrencies to enhance the
  efficiency of the overall payments system.
  Additionally, the Group mentioned the importance
  of a clear regulatory framework for digital
  assets to maintain the stability of financial and
  monetary systems.

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• Commenting on the recent announcement, Justin
  Muzinich said The statement reflects a
  commitment to both promote the important benefits
  of innovation and to achieve critical objectives
  related to national security and financial
  stability. Regulators will continue to look
  closely at stablecoin arrangements and look
  forward to a future dialogue on these issues.
• The recent statement by Trumps Working Group
  came after the SEC charged Ripple Labs along with
  its two executives for conducting 1.3 billion
  unregistered securities offering.

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• The US regulatory authorities have recently
  released statements on the growing interest in
  cryptocurrencies in the country. The SEC, FinCEN,
  and the US Treasury have outlined the importance
  of having a clear regulatory framework on digital
  assets. US Congresswoman Rashida Tlaib, along
  with Congressmen Jesus García and Stephen Lynch
  introduced a bill earlier this month to protect
  consumers from risks associated with stabelcoins.
  The lawmakers introduced the STABLE Act to ensure
  a regulatory structure for stabelcoin issuers.

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