Senate Banking Committee chair seeks information from stablecoin issuers and exchanges, suggesting possible hearing By Cointelegraph

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Sherrod Brown, the chair of the Senate Committee on Banking, Housing and Urban Affairs, has referred to as on a number of crypto companies to launch information associated to client and investor safety on stablecoins.

According to a Tuesday announcement, Brown despatched notices to Coinbase (NASDAQ:), Gemini, Paxos, TrustToken, Binance.US, Circle, Centre, and requesting information on stablecoins by Dec. 3, suggesting that he and different lawmakers could also be getting ready to carry a later hearing on the topic. The senator mentioned traders “may not appreciate the complexity and distinct features and terms of each stablecoin,” with crypto platforms not all the time offering customers with the identical protections afforded to somebody buying cash instantly from an issuer.