On Dec. 17, the United States Treasury gave further indications about new laws regarding stablecoins. Nellie Liang was the Under Secretary to the Treasury for Domestic Finance. fueled more stablecoin regulation speculation with comments on investors ‘potentially big risk’ when using stablecoins.

Following the Financial Stability Oversight Council, November 2021 Report on stablecoins, the top official for financial oversight at the U.S Treasury stated that “If Congress does not enact legislation, the regulators will try to use what authority they have.”