.USTreasury Secretary Janet Yellen is meeting with Wall Street bank CEOs on the global economy and digital assets, even as the Department is paying closer attention to market turmoil. jesseahamilton reports
U.S. Treasury Secretary Janet Yellen is meeting with the CEOs of Wall Street banks Thursday to discuss the global economy and U.S. inflation, while also raising “the need for responsible innovation in digital assets,” according to the Treasury Department.
That discussion comes as the Treasury closely watches activity in the crypto market, according to a department official who was not authorized to speak on the record. The recent turmoil in crypto is underlining the growing urgency for establishing regulations for the industry, the official said. While dramatic market swings often push Treasury secretaries to reach out to U.S. financial leaders, Yellen’s meeting with a long list of bank executives had long been scheduled, according to people familiar with the event. Both bankers and the administration have been keen on the subject of cryptocurrency oversight, so that topic is featured on the agenda even as Bitcoin and other digital mainstays slide into ever-deeper declines.
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