Recent turmoil in the crypto market has emphasized the “urgent need” of a regulatory framework to mitigate the risks posed by digital assets as investors withdraw assets from the sector, U.S. Treasury officials said. Said on Thursday.
“The Treasury is monitoring crypto market activity. We believe the recent turmoil only underscores the urgent need for a regulatory framework to mitigate the risks posed by digital assets,” he said.
“Regulatory partners will continue to work closely with existing authorities to act and provide guidance and expertise as Congress considers legislation to further address these risks.”