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.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit http://www.kitco.com/

Follow us on social media:
Facebook – https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter – https://twitter.com/kitconewsnow
StockTwits – https://stocktwits.com/kitconews

Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/

Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

source