The top Democrat on the Senate Banking Committee isn't jazzed about a leading congressional effort to regulate stablecoins.
Sen. Elizabeth Warren (D-Mass.) wants to work with both parties on stablecoin reform. But Warren told reporters on Wednesday the Senate’s leading bipartisan stablecoin bill – via Sen. Bill Hagerty (R-Tenn.) – didn’t have strong enough consumer protection and anti-money laundering provisions to have her support.
“Any forward movement in the crypto area needs to have strong consumer protections and guardrails against money laundering,” Warren said after being asked about Hagerty’s bill, the GENIUS Act. “I’m concerned about the lack in both areas.”
