Treasury’s Liang Says Crypto Intermediaries Need More Regulation

Treasury Undersecretary for Domestic Finance Nellie Liang is set to underscore the need to oversee stablecoin issuers, regulate all crypto intermediaries and address potential risks posed by increased leverage against digital assets when she appears before U.S. lawmakers Tuesday.

Liang will be the sole witness at the House Financial Services Committee’s hearing, which will focus primarily on stablecoins and the report issued about them last year by the President’s Working Group on Financial Markets. Stablecoins are digital assets issued by private companies that are typically pegged to the U.S. dollar and other fiat currencies to avoid wild price swings.

Nellie Liang

Photographer: Andrew Harrer/Bloomberg