Senators Investigate Coinbase, Binance and Tether for Consumer Risks

Trishla  |  Nov 25, 2021

Sherrod Brown, the chairman of the Senate Banking Committee, is investigating some of the largest stablecoin issuers and exchanges to learn more about the hazards such digital tokens represent to investors and consumers. 

Brown wrote letters to officials at Tether, Coinbase Global Inc., Binance.US, and five other firms, requesting additional information about the size of the digital coin market, how tokens are traded, and other topics.

"The complicated terms and conditions that apply to digital assets and stable coins, as well as the necessity for trustworthy and robust underlying networks, can make it difficult for investors and consumers to properly comprehend how such assets work and the dangers they may pose," said by Brown.

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