Treasury Secretary Janet Yellen calls on Congress to address regulatory gaps in digital assets, warning of potential risks to investors and the financial system. During a hearing, Yellen stressed the importance of regulating wallet holders and stablecoin issuers, noting the CFTC's lack of authority over Bitcoin's spot market. She advocates for a unified federal regulatory framework for stablecoins, moving away from the current state-based approach. The push for clearer regulation follows the Financial Stability Oversight Council's annual report and precedes key legislative decisions on digital asset oversight.