The group believes that stablecoins have the potential to foster broader financial inclusion. PWG believes that a stablecoin can be either a security or commodity, depending on its design. The President’s Working Group on Financial Markets (PWG) has released a statement regarding the regulation of stablecoins. The group, which comprises representatives from the Treasury, the Federal Reserve, the SEC, and the CFTC, published the statement on December 23, focusing on US-issued stablecoins. In the statement, the group’s opinions did not particularly favour stablecoin innovation, seeing as th...