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| Hollow chain crypto | The topic of stablecoins was notably absent from the White House's announcement Wednesday, though Yellen has made clear she wants to see Congress introducing regulation for the sector. This is especially significant now that China has effectively banned cryptocurrencies. The SEC threatened Coinbase with legal action over a product similar to BlockFi's which offered users interest payments on their crypto holdings. There had been reports of a divide between White House officials and Treasury Secretary Janet Yellen leading to delays in the policy rollout. The president has called for an "unprecedented focus of coordinated action" from federal agencies in mitigating illicit finance and national security risks posed by cryptocurrencies. Key Points. Follow BrandyBetz on Twitter. |
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