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APEC finance ministers to discuss digital assets in San Francisco — Yellen

Participants in the meeting will "turn to the three priorities we’ve focused on throughout this year: modern supply-side economics, sustainable finance, and digital assets," US Secretary of the Treasury said

© AP Photo/Eric Risberg

SAN FRANCISCO, November 14. /TASS/. Sustainable finance, digital assets and supply-side economics will be among the key topics of the APEC Financial Ministers Meeting, US Secretary of the Treasury Janet Yellen said at the opening of the event.

Participants in the meeting will "turn to the three priorities we’ve focused on throughout this year: modern supply-side economics, sustainable finance, and digital assets," Yellen said.

"First, in discussions this year, we’ve advanced our thinking on what I’ve been calling modern supply-side economics: that is, policies that expand the productive capacity of our economies while improving resilience and addressing inequality," the Secretary noted. "Second, our work on sustainable finance has focused on how to mobilize resources to accelerate our just energy transitions and achieve our respective net-zero emissions goals," she said.

Concerning the digital assets, "sharing insights and engaging with the private sector has enabled us to deepen our collective understanding of the tools that policymakers can use to facilitate the responsible development and use of digital assets, including unbacked crypto-assets, stablecoins, and central bank digital currencies. We’ve specifically explored the potential benefits and challenges of these innovative financial tools and approaches to maintaining high regulatory standards," Yellen stressed.

"Today, I look forward to hearing your perspectives on the long-term role that digital assets and blockchain technologies can play in our respective financial systems, as well as how your authorities plan to approach regulatory oversight of their development and use," she added.

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United States APEC Summit

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