PANews reported on December 7 that according to Bloomberg, U.S. Treasury Secretary Janet Yellen urged the Financial Stability Oversight Council (FSOC) to further strengthen its supervision of cryptocurrencies and stablecoins at its last meeting of the year. She said that although cooling inflation and low unemployment have boosted the overall economy, the U.S. financial system will continue to face vulnerabilities from commercial real estate risks and digital assets in 2024. "The committee continues to call for legislation to establish a comprehensive federal prudential framework for stablecoin issuers and to enact legislation for crypto assets to address the risks we have identified. We recommend further building cross-institutional expertise to analyze and monitor potential systemic risks from the use of artificial intelligence in the financial services industry, while promoting innovation."