As investigations continue on stablecoins, the US Senate Banking Committee will hold a session on Tuesday, December 14 to separate stablecoin use from cryptocurrency use.
The US Senate Banking Committee will broadcast live “How do stablecoins work, how are they used and what are their risks?” announced the timeline of the session entitled.
Witnesses in the session will be Ms. Alexis Goldstein, Fiscal Policy Director of the Open Markets Institute, and Professor Hilary J. Allen of the American University Washington School of Law. However, it was stated that other witnesses could be added before the session.
This session could end the ongoing discussion about stablecoins. However, given the recent US Treasury Department report that stablecoins threaten consumer protection and economic stability, and outline their potential risks, the upcoming stablecoin session is unlikely to be good news for the crypto community.
According to the new laws, which will be enacted in line with the US Treasury Department’s report that predicts stricter and stricter regulations on stablecoins, stablecoin issuance in the US will be limited only to banks that are subject to appropriate supervision and oversight.
On the other hand, today the US House of Representatives will hold a meeting where the CEOs of crypto money companies are invited. It is expected that stablecoins will also be discussed at this meeting.