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U.S. Senator Elizabeth Warren was amongst the united state Senators pushing for even more quality around whether stablecoins offer a systemic danger to the U.S. economic system.
" Instead of being made use of to pay for products and solutions, billions of dollars worth of stablecoins are being utilized to lubricate speculation in the shadiest component of the crypto environment, where people are providing, trading, as well as leveraging with no regulations as well as no sheriff anywhere," Warren claimed during the united state Senate Board on Financial, Housing, as well as Urban Affairs hearing on stablecoins.
Entitled "Checking out the Head of state's Working Team on Financial Markets Record on Stablecoins," the hearing's witness was Nellie Liang, Under Assistant for Domestic Finance at the Division of the Treasury.
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Emerging threat or systemic risk? U.S. Senators debate stablecoins
U.S. Senator Elizabeth Warren was among the U.S. Senators pushing for more clarity around whether stablecoins present a systemic risk to the U.S. financial system.
“Instead of being used to pay for goods and services, billions of dollars worth of stablecoins are being used to lubricate speculation in the shadiest part of the crypto ecosystem, where people are lending, trading, and leveraging with no laws and no sheriff anywhere,” Warren said during the U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing on stablecoins.
Titled “Examining the President’s Working Group on Financial Markets Report on Stablecoins,” the hearing’s witness was Nellie Liang, Under Secretary for Domestic Finance at the Department of the Treasury.
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