The GENIUS Act, regulating stablecoins, faces strong criticism from Senator Elizabeth Warren, who warns it could spark a 2008-like financial crisis. She argues the bill, influenced by crypto insiders and benefiting figures like President Trump, lacks sufficient oversight and consumer protection, risking market chaos.

#GENIUSAct #CryptoCrisis #Stablecoins #FinancialRegulation #TECHi

Read Full Article Here :- https://www.techi.com/genius-act-crypto-stablecoin-crisis-warning/

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The $1tn digital asset market faces a crisis akin to the 2008 financial crash, according to Binance chief Changpeng Zhao, who warned more companies might fail in the coming weeks following the troubles at FTX.

Binance chief Changpeng Zhao warns of ‘cascading’ #cryptocrisis
https://on.ft.com/3fXvs2V