Senator Sherrod Brown (D-O.H.), Chair of the Senate Banking Committee, has sent inquiry letters to major stablecoin issuers and exchanges as the Committee seeks more information on the topic in the lead up to a likely hearing next year. In a letter to Circle CEO Jeremy Allaire, posted online, Sen. Brown expressed concern about the lack of transparency around stablecoins and questions the consistency of the redemption process. {tweet} “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins, how those terms differ from traditional assets, and how those terms may ... (full story)