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Witnesses offer differing opinions on approach to stablecoins at congressional hearing
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The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers to establish a clear regulatory framework but could not seem to agree on where lines would be drawn.
In a Tuesday hearing on “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?”, Hilary Allen, a professor at the American University Washington College of Law, Alexis Goldstein, director of financial policy at Open Markets, Jai Massari, partner at Davis Polk & Wardwell, and Dante Disparte, chief strategy officer and head of global policy at Circle, addressed U.S. senators regard some of the risks stablecoins may pose to the U.S. financial system and how lawmakers could handle
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