Tether, Circle hit with information requests from U.S. Senator
They say opposites attract, and this is certainly the case when it comes to stablecoins and regulatory scrutiny. Now, Tether [USDT] and Circle [USDC] are in the spotlight yet again alongside other stablecoin issuers.
Senator and Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, sent out letters to a variety of crypto entities such as Coinbase, Gemini, Paxos, TrustToken, Binance.US, Centre, Circle, and Tether.
The letter formats were highly similar, and contained the senator’s concerns about stablecoins as assets, as well as questions about their working.
One request from the letter sent to Circle stated,
“Please summarize any internal reviews or studies your company has conducted about how specific levels
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