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Two American senators, Elizabeth Warren and Richard Blumenthal,, asked Meta Meta Meta Zuckerberg CEO Give more details about StableCoin’s launch company plans.
In a Letter sent on June 11Senators said that Due to the size and reach of the target, it is important that the congress and the public understand what the company plans.
They asked Zuckerberg to explain if Meta talked about stable hair with other companies and whether there was an impact on running and establishing national innovation for American Stablecoins (Genius) Act during her draft.
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Senators expressed concern that the target could get a waiver under the ingenious law. If that happens, the company could avoid the rules that would refer to other Stablecoin publishers. According to the letter, this type of exception can give the target an unfair advantage and could give a worrying example.
Warren and Blumenthal also warned that if the target creates and controls its own digital currency, it might be able to monitor the purchase and other financial behavior on their platforms. They added:
Huge amounts of consumer data that could swallow could help the scheme of the price of metal supervision on their platform, a more intrusive targeted advertising.
Meanwhile, during the hearing of the House Financial Services Committee on June 4, Maxine Waters Representative expressed concern about what she considers the JAZU in the Law on the Clago of the Digital Property Market (clarity). What did she say? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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