-
Senate Banking Committee Prepares for Stablecoin Hearing
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)