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09.12 - 17:39
US Senate Demands Answers From Stablecoin Issuers, Expresses ‘Concerns’
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Stablecoins are in for another battering at the hands of the United States policymakers – with the Senate now getting in on the act: a committee chief has expressed “significant concerns” about the “consistency” of the terminology used to audit them.
The Democrat Senator Sherrod Brown, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to the USD coin (USDC) mastermind Circle, with similar letters also sent to Coinbase, Gemini, Paxos, TrustToken (PAX), Binance.US and Centre.
The letters made a number of requests of the entities. In the case of the letter to Circle, it included the following:
“Please describe the basic purchase, exchange or minting process[es] by which customers can acquire USDC for USD. In
Read more on cryptonews.comAbout this in other media
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