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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 known as on a number of crypto corporations to launch information associated to shopper 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 making ready to carry a later hearing on the topic. The senator mentioned buyers “may not appreciate the complexity and distinct features and terms of each stablecoin,” with crypto platforms not at all times offering customers with the identical protections afforded to somebody buying cash immediately from an issuer.