The Treasury Department is sounding the alarm on cybersecurity risks posed by the growing use of artificial intelligence (AI) within the financial services sector. A new report Wednesday (March 27) highlights potential dangers and calls for urgent collaboration between government and industry to safeguard financial stability. The...
The House Financial Services Committee wants to hear banking regulators’ view on the banking crisis. Top federal banking regulators are scheduled to testify before the committee March 29 in what lawmakers indicate will be the first of many hearings on the failures of Silicon Valley...
A leading U.S. Treasury official says the digital dollar could still be years away. U.S. regulators must first determine whether a central bank digital currency (CBDC) would truly improve real-time interbank payments in terms of speed and cost, Nellie Liang, undersecretary for domestic finance at...
Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, thinks it would be OK for nonbanks to issue stablecoins, Coindesk reported Monday (July 18). She explained that though President’s Working Group on Financial Markets recommended that stablecoins stay inside the regulated banking industry, Treasury...
June 06, 2024
The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday (June 6) and said it encourages the submission of comments within 60 days, according to a Thursday press release. The request for information encompasses “uses, […]
March 21, 2023
The House Financial Services Committee wants to hear banking regulators’ view on the banking crisis. Top federal banking regulators are scheduled to testify before the committee March 29 in what...
December 21, 2022
A leading U.S. Treasury official says the digital dollar could still be years away. U.S. regulators must first determine whether a central bank digital currency (CBDC) would truly improve real-time...
July 18, 2022
Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, thinks it would be OK for nonbanks to issue stablecoins, Coindesk reported Monday (July 18). She explained that though President’s...
