U.S. Government Accountability Office (GAO)'s video: Blockchain in Finance

Blockchain technology offers the potential for faster and cheaper financial transactions with no middlemen. But it also poses risks. Recent price crashes, bankruptcies, and fraud involving crypto assets, such as bitcoin and other cryptocurrencies, raised concerns about regulation and the risks consumers face. There are gaps in federal regulation for stablecoins—a kind of crypto asset—and trading platforms for crypto assets. This leaves consumers and investors vulnerable. We recommended that Congress consider legislation to address these risks. Check out the report: https://www.gao.gov/products/gao-23-105346 Get transcript: https://www.gao.gov/assets/830/826414.txt Learn more about GAO: gao.gov/about Check out the WatchBlog: gao.gov/blog Check out our Podcasts: gao.gov/podcast Follow GAO on Social Media: Twitter.com/usgao Instagram.com/usgao LinkedIn.com/company/us-government YouTube.com/usgao Facebook.com/usgao Flicker.com/photos/usgao General Information: The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for Congress. Often called the "congressional watchdog," GAO investigates how the federal government spends taxpayer dollars. Mission: Our Mission is to support the Congress in meeting its constitutional responsibilities and to help improve the performance and ensure the accountability of the federal government for the benefit of the American people. We provide Congress with timely information that is objective, fact-based, nonpartisan, non-ideological, fair, and balanced. Disclaimer: The U.S. GAO does not promote or endorse any non-Government or commercial content appearing on this page.