The Presidential Advisory Group Shows
Commitment to Regulate Stable Digital Assets.
Donald Trump’s Working Group on
Financial Markets Evaluates
Stablecoins
Trump’s 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.
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 Trump’s Working Group
came after the SEC charged Ripple Labs along
with its two executives for conducting $1.3 billion
unregistered securities offering.
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.
Contact Us
Justin Muzinich – Muck Rack
Deputy Secretary Justin Muzinich at German-
American Conference
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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.
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