Stablecoin to be discussed within U.S Financial Industry and Treasury

The treasury department of the United States met with several participants of the industry during this week for talking about the various pros and cons associated with stablecoins. For those who don’t know, stablecoins is a form of crypto that has been gaining a fair bit of steam as of late. More and more people are showing interest in making stablecoin related investments and for good reason. This is because stablecoin has been quite profitable as of late and its volatility is not bad either.

Ever since this form of crypto came to the forefront, its value has been improving tremendously. It is one of the major reasons why a large number of people have switched from their previous crypto investments to stablecoins.  The policymakers present in Washington were incredibly alarmed when they took a look at the crypto market as it exceeded a massive record of $w trillion during the month of April.

Stablecoin’s market cap during Friday, stood around $125 billion and this is just a rough estimate. Some people have been suggesting that the figure could be slightly higher but there are no reports to confirm this. That being said, things are quite unclear regarding the financial regulations that would be applicable to newer products like stablecoin and several others. The financial regulators in the United States have been working in order to understand the various opportunities and risks bought upon by various crypto.

They are trying to understand the entire system in order to make sure that they are utilized the right way, and that people can make the most out of them. According to the finalized plans, the United States treasury will work on multiple reports, making sure that they are able to determine what the future holds for stablecoin and crypto, in general. Janet Yellen, who is a high-ranking member in the United States treasury stated that the government should waste no time when it comes to developing a sustainable regulatory framework.

If you have been following crypto-related news for a while, you will be well aware of the fact that a large number of governments across the globe have been hard at work to develop crypto regulations. The U.S in particular has been quite proactive when it comes to crypto-related rules and regulations, however, there is still a lot of work that needs to be done.

Needless to say, things are heading in the right direction, but it could take some time to see the desired results. In the meantime, crypto enthusiasts can breathe a sigh of relief knowing that the government is taking a keen interest in its improvement.