US panel urges greater crypto asset regulation
US federal panel called Friday for legislation that would give regulators more authority over certain crypto assets, weeks before President-elect Donald Trump returns to the White House.
Trump has vowed that the United States would be the «crypto capital of the planet,» and during his election campaign drew heavy financial support from cryptocurrency backers.
On Friday, the Financial Stability Oversight Council (FSOC) recommended that Congress pass legislation «providing federal financial regulators with explicit rulemaking authority over the spot market for crypto assets that are not securities.»
It also urged lawmakers to approve rules creating a federal framework for stablecoin issuers.
Stablecoins are cryptocurrencies typically pegged to real-world units such as the dollar and are seen as less volatile than other cryptocurrencies — though the FSOC noted they could be a risk to financial stability.
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