Janet Yellen, the U.S. Treasury Secretary, announced at the annual meeting of the Financial Stability Oversight Council that cryptocurrencies continue to pose a serious threat to the financial stability of the United States.
Janet Yellen, the U.S. Treasury Secretary, announced at the annual meeting of the Financial Stability Oversight Council (FSOC) that cryptocurrencies continue to pose a serious threat to the financial stability of the United States. Referring to emerging technologies such as artificial intelligence and blockchain, she called for comprehensive regulations on stablecoins and other digital assets. Yellen also addressed the risks associated with the misuse of artificial intelligence, warning that AI-based systems could lead to discriminatory outcomes in lending or create hidden financial risks. The FSOC report has urged financial institutions to responsibly leverage technology while gaining a better understanding of the associated risks.
Source: msn.com
