During a House Financial Services Committee hearing, U.S. Treasury Secretary Janet Yellen urged Congress to introduce specific legislation aimed at the cryptocurrency market to address potential risks not covered by current financial laws. What Happened: Yellen stressed the need for regulatory measures, particularly for stablecoins and the crypto spot market that are not classified as securities. “Congress should pass legislation to provide for the regulation of stablecoins, and of the spot market for crypto assets that are not securities,” said Yellen. The Treasury Secretary has been advocati…
