SEC’s Gensler flags $13 trillion in offshore funds as a risk to U.S. financial “stability”

SEC Chair Gary Gensler has raised alarms about the $13 trillion sitting in offshore U.S. currency, saying it could destabilize the American financial system. During the Bloomberg Global Regulatory Forum, Gensler pointed out that much of this money held by foreign banks isn’t insured. This puts the U.S. economy at risk if something goes wrong

Source: Cryptopolitan