United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability.

Yellen spoke Tuesday at the hearing of Senate Banking Committee, Financial Stability Oversight Council Annual Report To Congress. reiteratedIn her past position, she called for regulation of stablecoins. Citing a November Report from the President’s Working Group on Financial Markets. The Treasury Secretary also commented on TerraUSD, which is the third largest stablecoin in terms of market capitalization. Dropping to $0.67Within the last 24hrs.