Investors who have invested money in stablecoins stand a higher chance of losing the money because these projects are neither transparent and regulated, nor decentralized as claimed, says United States Senator Sherrod Brown (D-OH). Speaking in a US Senate’s Banking, Housing, and Urban Affairs Committee hearing yesterday, he said the projects do not adhere to any banking regulation even though they mirror existing banking systems.
“It is understandable a lot of people are looking for an alternative to our current financial system. Wall Street banks dominate this economy; they make record profits no matter what happens to workers. Stablecoins and crypto markets aren’t an alternative to our banking system. They’re a mirror of the same broken system––with even less accountability, and no rules at all.“
However, Ranking Member Pat Toomey (R-Pa.) came to the defense of stablecoins during the same hearing, saying they can lower payment costs, expand access to the payment system, and promote financial programmability. He stated legislation should be used to address existing consumer protection issues and financial systemic risks.
“Regulation of stablecoins should be narrowly tailored and harmonized within the United States and across jurisdictions globally,” he continued. “In addition, regulation should seek to maintain the international competitiveness of the United States. Regulators should acknowledge that privately issued stablecoins would not undermine the international status of the U.S. Dollar, but that well-managed stablecoins could actually support it. Finally, regulation should allow stablecoins to be interoperable with the current financial system.”
Toomey said that, if given a chance and regulated well, crypto has the potential to be as revolutionary as the internet.
However, according to Brown, crypto has benefited only a few people or the big guys while many have walked away poor from crypto. He expressed stablecoins cause risk concerns because they link fiat to the crypto economy. They thus expose people to investing their hard-earned economy to just wild promises, he said.
“Stablecoins make it easier than ever to risk real dollars on cryptocurrencies that are at best volatile, and at worst outright fraudulent.“
Brown enunciated although cryptocurrency was not known to many a few years ago, it is now a hot topic all across the United States. That explosion of the still-nascent industry means there are systemic issues in the economy because a lot of money is now tied to cryptocurrencies. Yet the promises to democratize money with blockchain has not materialized, he said, but instead, financial speculation has worsened.
“As we’ve heard before in this committee, the wild price swings and high transaction fees for many cryptocurrencies make them useless for payments – the one thing they claim to be designed for. Stablecoins were supposed to solve this problem.”
He maintained that companies that control stablecoins projects are centralized and did not offer very enlightening responses when he asked them for information about the projects, which means even the users are exposed. He said the recent crypto crashes were a huge reason for concern about crypto.
862851 949895You need to participate in a contest for among the best blogs on the web. I will suggest this site! 740446
747567 624364I like this internet site because so considerably valuable stuff on here : D. 322719
darknet markets darknet market lists
deep web drug markets darkmarket url
darknet market tor marketplace
972491 519152Not long noticed concerning your web web site and are still already reading along. I assumed ill leave my initial comment. i do not verify what saying except that Ive enjoyed reading. Good blog. ill be bookmarking maintain visiting this internet internet site genuinely generally. 675253
Pretty section of content. I just stumbled upon your
blog and in accession capital to assert that I get actually enjoyed account
your weblog posts. Anyway I will be subscribing for your feeds and even I fulfillment you access constantly quickly.
I believe people who wrote this needs true loving because it’s
a blessing. So let me give back and show my hidden information on change your life and if you want to
with no joke truthfully see I will share info about
how to become a millionaire Don’t forget..
I am always here for yall. Bless yall!
Heya i’m for the primary time here. I found this board and I to
find It truly helpful & it helped me out a lot.
I am hoping to provide one thing back and help others like you helped me.
I feel this is among the such a lot vital info for me.
And i’m satisfied studying your article.
But should commentary on some basic things, The site taste
is perfect, the articles is actually excellent : D.
Just right job, cheers
Now I am going away to do my breakfast, after having
my breakfast coming again to read further news.
OMG! This is amazing. Ireally appreciate it~ May I
tell you exactly how to do a secret only I KNOW and if you want to with no joke truthfully see You really have to believe mme and have faith and I will show how to find good hackers for good price Once again I want to show
my appreciation and may all the blessing
goes to you now!.
When someone writes an article he/she maintains the image of a user in his/her mind that how a
user can be aware of it. Therefore that’s why
this post is outstdanding. Thanks!
obviously like your web site but you have to
take a look at the spelling on quite a few of your posts.
Several of them are rife with spelling issues and I in finding it very troublesome
to tell the reality on the other hand I’ll definitely come back again.
This blog was… how do you say it? Relevant!! Finally I have found
something which helped me. Many thanks!
I am really impressed with your writing skills and also with the layout on your weblog.
Is this a paid theme or did you customize it
yourself? Either way keep up the nice quality writing,
it is rare to see a nice blog like this one nowadays.
Fantastic beat ! I wish to apprentice while you amend your web site,
how can i subscribe for a blog website? The account helped me a
acceptable deal. I had been a little bit acquainted of
this your broadcast provided bright clear idea
Good way of telling, and good post to get facts regarding
my presentation topic, which i am going to present
in academy.
Hey! Do you know if they make any plugins to help with Search Engine
Optimization? I’m trying to get my blog to rank for some targeted keywords but
I’m not seeing very good gains. If you know of any please share.
Kudos!
Hi would you mind stating which blog platform you’re using?
I’m planning to start my own blog in the near
future but I’m having a hard time selecting between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your layout seems different then most blogs and
I’m looking for something completely unique. P.S
Apologies for being off-topic but I had to ask!
Everything is very open with a clear explanation of the challenges.
It was definitely informative. Your website is useful.
Thanks for sharing!
Now I am going to do my breakfast, when having my breakfast coming again to read additional news.
My partner and I absolutely love your blog and find the
majority of your post’s to be what precisely I’m looking for.
Do you offer guest writers to write content in your case?
I wouldn’t mind producing a post or elaborating on a lot of
the subjects you write about here. Again, awesome website!
This design is steller! You obviously know how to keep a reader amused.
Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job.
I really loved what you had to say, and more than that, how
you presented it. Too cool!
Amazing! This blog looks exactly like my old one! It’s on a entirely different subject but it has
pretty much the same layout and design. Excellent choice of colors!
I do not know if it’s just me or if everyone else
experiencing issues with your site. It looks like
some of the text on your content are running
off the screen. Can someone else please provide feedback and let me know if this is happening
to them as well? This could be a problem with my
internet browser because I’ve had this happen before. Many
thanks
I pay a quick visit daily some web pages and information sites to read content, but this blog
gives quality based writing.
Hi, I do believe this is an excellent web site. I stumbledupon it 😉 I may
revisit yet again since I book marked it. Money and freedom is the
best way to change, may you be rich and continue
to guide others.
Hi to every , because I am genuinely keen of reading this webpage’s post to be updated daily.
It carries pleasant data.
Awesome! Its really awesome post, I have got much clear idea about from this
post.
What’s up, I desire to subscribe for this webpage to take hottest updates, so
where can i do it please help out.
What’s Going down i am new to this, I stumbled upon this I’ve discovered It positively helpful
and it has aided me out loads. I hope to give a contribution & assist other users like its helped me.
Good job.
I am really impressed with your writing skills
as neatly as with the structure on your weblog. Is that this a paid topic
or did you modify it your self? Either way stay up the excellent quality writing, it is rare to see a
nice weblog like this one these days..
Thank you for the auspicious writeup. It in fact was a
amusement account it. Look advanced to far added agreeable from you!
By the way, how can we communicate?
When I originally commented I appear to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment
is added I recieve 4 emails with the same comment. There has to be a way you can remove me from that
service? Cheers!
This is really interesting, You’re a very skilled blogger.
I have joined your feed and look forward
to seeking more of your magnificent post. Also, I have shared
your web site in my social networks!
I always spent my half an hour to read this web site’s articles
everyday along with a mug of coffee.
This is a topic that’s close to my heart… Thank you!
Exactly where are your contact details though?
If some one desires to be updated with latest technologies then he must be pay a quick visit
this website and be up to date every day.
Does your website have a contact page? I’m having trouble locating it
but, I’d like to shoot you an e-mail. I’ve got some creative ideas
for your blog you might be interested in hearing. Either way, great site and I look forward to seeing it
expand over time.
Hi there Dear, are you truly visiting this website daily, if so after that you will without doubt get nice experience.
Hi there! This is my 1st comment here so I just wanted to give
a quick shout out and tell you I really enjoy reading through your articles.
Can you suggest any other blogs/websites/forums that cover the same topics?
Thanks a lot!
Wow, this paragraph is fastidious, my younger sister is analyzing
these kinds of things, so I am going to tell her.
After I initially left a comment I seem to have clicked on the -Notify me when new comments are
added- checkbox and now whenever a comment is
added I get four emails with the exact same comment.
Perhaps there is an easy method you are able to remove me from
that service? Thank you!
I’m extremely impressed with your writing skills and also
with the layout on your weblog. Is this a paid theme or did you modify it yourself?
Anyway keep up the nice quality writing, it is rare to see a nice blog like this one today.
Wonderful goods from you, man. I have bear in mind
your stuff previous to and you are simply extremely magnificent.
I really like what you have acquired here, certainly like what you’re stating and the
way through which you assert it. You make it enjoyable and you
continue to take care of to stay it sensible. I cant wait to learn much more from you.
That is really a terrific website.
I savor, result in I found just what I was having
a look for. You have ended my four day lengthy hunt!
God Bless you man. Have a great day. Bye
I am in fact glad to read this blog posts which includes tons of helpful information,
thanks for providing these information.
Its like you read my mind! You seem to know a lot about
this, like you wrote the book in it or something.
I think that you can do with some pics to drive the message home a bit, but other than that,
this is magnificent blog. A great read. I’ll definitely be back.
If you are going for best contents like me, just go to see this
web site everyday for the reason that it provides feature contents, thanks
It’s awesome to go to see this web page and reading the views of all mates about this post, while I am also eager of getting experience.
I feel that is one of the such a lot vital info for me. And i’m happy
reading your article. But should observation on few basic
things, The website style is perfect, the articles is in reality
excellent : D. Excellent task, cheers
Excellent article! We are linking to this particularly great content
on our website. Keep up the good writing.
It’s hard to find educated people on this subject, but
you seem like you know what you’re talking about!
Thanks
I know this web site offers quality dependent posts and additional material,
is there any other website which offers these kinds of stuff in quality?
When someone writes an paragraph he/she retains the image of a user in his/her brain that how a user can understand it.
So that’s why this article is perfect. Thanks!
Nice blog here! Also your site loads up fast!
What host are you using? Can I get your affiliate
link to your host? I wish my site loaded up as fast as
yours lol
Whoa! This blog looks exactly like my old one! It’s on a completely different subject but it has pretty much the same page layout and design. Excellent choice of colors!
I am extremely impressed together with your writing talents as neatly as with
the layout to your blog. Is that this a paid topic or did you modify it yourself?
Either way keep up the excellent quality writing, it’s uncommon to see a nice weblog like this one nowadays..
That is a good tip particularly to those fresh
to the blogosphere. Simple but very accurate info… Appreciate your sharing this
one. A must read article!
Hello There. I found your weblog using msn. That is an extremely well written article.
I will be sure to bookmark it and return to read more of your helpful info.
Thank you for the post. I’ll certainly return.
This blog was… how do I say it? Relevant!! Finally I
have found something which helped me. Many thanks!
Very shortly this site will be famous among all blogging visitors, due to it’s good content
Today, while I was at work, my cousin stole my apple ipad and tested to see
if it can survive a thirty foot drop, just so she can be a youtube sensation. My
iPad is now destroyed and she has 83 views. I know
this is totally off topic but I had to share it with someone!
Remarkable! Its really remarkable post, I have got much clear idea concerning
from this paragraph.
With havin so much content and articles do you ever run into any issues of plagorism or copyright violation? My
blog has a lot of completely unique content I’ve either written myself or outsourced but it
appears a lot of it is popping it up all over the web without my authorization. Do
you know any solutions to help stop content from being ripped off?
I’d truly appreciate it.
Good site you’ve got here.. It’s difficult to find excellent writing like yours nowadays.
I really appreciate individuals like you! Take care!!
I love your blog.. very nice colors & theme. Did you make this
website yourself or did you hire someone to do it for you?
Plz respond as I’m looking to construct my own blog and would like
to find out where u got this from. kudos
Magnificent website. Lots of helpful info here. I’m sending it to a few pals ans additionally sharing in delicious.
And certainly, thanks on your effort!
This is really interesting, You’re an excessively skilled blogger.
I’ve joined your rss feed and look ahead to in search of extra of your
magnificent post. Also, I’ve shared your site
in my social networks
I am regular reader, how are you everybody?
This post posted at this site is really pleasant.
This article will assist the internet visitors for creating new website or even a blog from start to end.
My brother suggested I might like this web site. He was totally right.
This post truly made my day. You cann’t imagine just how much time
I had spent for this info! Thanks!
It’s an awesome article designed for all the online people; they will
take advantage from it I am sure.
Have you ever considered about adding a little bit more than just your articles?
I mean, what you say is fundamental and all. Nevertheless imagine if you added some great pictures or video clips to
give your posts more, “pop”! Your content is excellent but with pics and videos, this blog could undeniably be one of the greatest in its niche.
Fantastic blog!
Hi there! This is kind of off topic but I need some help from an established blog.
Is it tough to set up your own blog? I’m not very
techincal but I can figure things out pretty quick.
I’m thinking about making my own but I’m not sure where to begin. Do you have any points or suggestions?
Appreciate it
Hi there mates, how is all, and what you would like to say about this article, in my view its genuinely remarkable in favor of
me.
Your style is very unique in comparison to other folks I’ve read stuff
from. Thank you for posting when you’ve got
the opportunity, Guess I’ll just bookmark this web site.
I enjoy reading through a post that can make men and women think.
Also, thank you for permitting me to comment!
Have you ever thought about including a little
bit more than just your articles? I mean, what you say is important and everything.
But think of if you added some great images or video clips to
give your posts more, “pop”! Your content is excellent
but with images and videos, this site could definitely be one of the greatest in its niche.
Very good blog!
That is very interesting, You’re a very professional blogger.
I have joined your rss feed and look ahead
to seeking more of your magnificent post. Additionally, I’ve shared your website in my
social networks
When someone writes an post he/she keeps the plan of a user in his/her
mind that how a user can understand it. So that’s why this piece of writing
is great. Thanks!
When I initially commented I clicked the “Notify me when new comments are added”
checkbox and now each time a comment is added I get several e-mails with the same comment.
Is there any way you can remove me from that service?
Thanks a lot!
Hi! I know this is kind of off-topic but I had to ask. Does
managing a well-established blog like yours take a lot of work?
I am brand new to writing a blog however I do write in my journal daily.
I’d like to start a blog so I will be able to
share my personal experience and views online. Please let me know if you have any
kind of ideas or tips for brand new aspiring bloggers.
Thankyou!
If some one wants to be updated with newest technologies
after that he must be go to see this site and be up to date every day.
Hello it’s me, I am also visiting this web site daily, this web site is really nice and
the visitors are truly sharing good thoughts.
My spouse and I stumbled over here coming from a
different website and thought I might check things out.
I like what I see so now i’m following you. Look forward to looking over
your web page repeatedly.
If you would like to improve your familiarity only keep visiting this website and be updated with the hottest gossip posted here.
Hey! Do you know if they make any plugins to help with SEO?
I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good
gains. If you know of any please share. Cheers!
I really love your blog.. Pleasant colors & theme. Did
you build this amazing site yourself? Please reply back as I’m hoping to create my own site and
would like to know where you got this from or just what the
theme is named. Kudos!
Spot on with this write-up, I seriously think this site needs a great deal more attention. I’ll
probably be returning to see more, thanks for the info!
It’s remarkable designed for me to have a website, which is valuable for my know-how.
thanks admin
I know this if off topic but I’m looking into starting my own weblog
and was wondering what all is needed to get set up?
I’m assuming having a blog like yours would cost a pretty
penny? I’m not very internet smart so I’m not 100% positive.
Any tips or advice would be greatly appreciated. Thank you
You made some good points there. I checked on the net for additional information about the issue and found
most people will go along with your views on this web site.
Thanks for your marvelous posting! I truly enjoyed reading it, you could be a great author.
I will remember to bookmark your blog and definitely will come back down the road.
I want to encourage you to ultimately continue your
great job, have a nice weekend!
Thanks in support of sharing such a pleasant thought, post is fastidious, thats
why i have read it fully
775914 144385I discovered your weblog internet site internet web site on the internet and appearance some of your early posts. Continue to maintain within the excellent operate. I just now additional increase your Rss to my MSN News Reader. Seeking toward reading far much more from you finding out at a later date! 881406
Incredible points. Solid arguments. Keep up the amazing spirit.
For the reason that the admin of this web page is working,
no question very quickly it will be famous, due to its feature contents.
excellent put up, very informative. I’m wondering why the
other experts of this sector do not notice this. You should
proceed your writing. I’m sure, you’ve a great readers’ base already!
For most recent news you have to go to see world wide web and on web
I found this web page as a best web page for latest updates.
Thanks for sharing your thoughts on situs slot jackpot terbesar.
Regards
hello!,I love your writing very a lot! share we communicate more about your
article on AOL? I require an expert in this house
to solve my problem. May be that is you! Looking forward to look you.
Thanks in favor of sharing such a good thought, piece of writing is
pleasant, thats why i have read it entirely
Heya i am for the first time here. I found this board and I find It really useful & it helped
me out much. I hope to give something back and help others like
you aided me.
bookmarked!!, I really like your site!