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Recently, Nellie Liang, one of the Top US Treasury officials, said crypto had no direct role in bank failures. She also told the House lawmakers that the crypto market was Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe the digital assets sector should be blamed for the runs on SVB and I don't believe that crypto played a direct role in either of the failures, Liang said during a hearing of the House Financial Services Committee on Wednesday. Treasury Undersecretary Nellie Liang informed members of the House of Representatives that the crypto industry was not a primary component in the failures of Silicon Valley Bank and

Crypto Didn't Cause Bank Failures: Top US Treasury Official Confirms

Recent headlines have been buzzing about the role of cryptocurrency in the recent bank failures. However, a leading voice from the U.S. Treasury Department is setting the record straight. Recently, Nellie Liang, one of the Top US Treasury officials, said crypto had no direct role in bank failures.

Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe the digital assets sector should be blamed for the runs on SVB and I don't believe that crypto played a direct role in either of the failures, Liang said during a hearing of the House Financial Services Committee on Wednesday. This statement provides clarity amidst swirling speculation and aims to reassure the public about the stability of the financial system.

During a session with House lawmakers, Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and other institutions. She emphasized that while the crypto market's volatility is a concern, it wasn't a primary driver behind the banking crisis.

Treasury Undersecretary Nellie Liang informed members of the House of Representatives that the crypto industry was not a primary component in the failures of Silicon Valley Bank and other financial institutions. She also told the House lawmakers that the crypto market was an area requiring continued monitoring but not the root cause of the recent banking instability.

Liang's statements offer a crucial perspective on the factors contributing to the bank failures, separating correlation from causation. While the cryptocurrency industry continues to evolve and faces its own set of challenges, the U.S. Treasury Department believes focusing on other key regulatory and economic factors is essential for ensuring future financial stability. This clarification from a top official aims to dispel misinformation and refocus the conversation on the actual causes of the bank failures.

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