On November 23, Sherrod Brown, the US Senate Send a letter requesting information about Stablecoins from Centre, Paxos and more.
The letter sent to Circle’s Jeremy Allaire states: “Consumers are increasingly using stablecoins and the importance of transacting in digital assets. This underscores the need to understand the underlying operations and limitations of USDC.”
Brown sent similar letters to Coinbase, Gemini, Paxos, TrustToken, Binance.US and Centre, according to Brown’s office, “it was planned to send a similar letter to Tether, but it hasn’t,” initially with a copy of the letter. for Tether Started circulating on social media after being discovered online.
The deadline for a response date is Dec. 3, with Brown asking the issuer to explain in “Clear and straightforward conditions” in the coin making and redemption process. This includes the special arrangements those issuers have with specific trading platforms.
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