A new report from the U.S. Department of the Treasury urges Congress to “act promptly” to issue legislation that brings additional oversight to stablecoins. Federal officials say regulation should match that of traditional financial institutions. The report does not specify which federal agency held jurisdiction over stablecoin and digital asset trading, it credited the SEC and CFTC with “broad enforcement, rulemaking, and oversight authorities” to address related transactions and industry players. In the absence of congressional action, the Financial Stability Oversight Council should establish additional stablecoin standards.”]