United States Treasury Secretary Janet Yellen stressed the importance of implementing a strong regulatory framework for cryptocurrencies during a G20 meeting on Feb. 25. 

Speaking to Reuters, Yellen said that it was "critical to put in place a strong regulatory framework." She also noted that the United States is not suggesting an "outright banning of crypto activities."

Yellen's remarks follow earlier ones from the International Monetary Fund (IMF) Managing Director Kristalina Georgieva, stating that banning crypto should be an option:

"There has to be very strong push for regulation... if regulation fails, if you're slow to do it, then we should not take off the table banning those assets, because they may create financial stability risk."