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Massachusetts Democrat Elizabeth Warren Elizabeth Warren expressed concern that the “talk” around stablecoins doesn’t match up to reality, noting that the value of cryptocurrencies like Tether can fluctuate even if they’re supposed to be pegged one-to-one to the dollar. However, others like Senator Pat Toomey, the top Republican on the Banking Committee, remarked on the potential for stablecoins to increase the speed of payments and lower costs.
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“Let’s be clear about one thing: if you put your money in stablecoins, there’s no guarantee you’re going to get it back,” Senate Banking Committee Chairman Sherrod Brown said in his opening remarks.
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