What role does Jelena McWilliams play in the regulation of cryptocurrencies?

3 answers

• Dec 25, 2021 · 3 years ago
  Jelena McWilliams is the Chairman of the Federal Deposit Insurance Corporation (FDIC), which is responsible for insuring deposits in banks and thrift institutions. While the FDIC does not directly regulate cryptocurrencies, McWilliams has expressed her concerns about the risks associated with digital assets and the need for regulatory clarity. She has called for collaboration between regulatory agencies to develop a comprehensive framework for overseeing cryptocurrencies.
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• Dec 25, 2021 · 3 years ago
  As the Chairman of the FDIC, Jelena McWilliams plays a significant role in shaping the regulatory landscape for financial institutions, including banks that may offer cryptocurrency-related services. While the FDIC's primary focus is on traditional banking activities, McWilliams recognizes the importance of addressing the regulatory challenges posed by cryptocurrencies and ensuring the safety and soundness of the banking system in the digital age.
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• Dec 25, 2021 · 3 years ago
  Jelena McWilliams, in her capacity as the Chairman of the FDIC, does not have direct authority over the regulation of cryptocurrencies. However, the FDIC works closely with other regulatory agencies, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), to coordinate efforts and establish a cohesive regulatory framework. It is important to note that the regulation of cryptocurrencies involves multiple agencies and stakeholders, and decisions are made through a collaborative process.
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