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Committee hears warnings that proposed crypto and stablecoin measures could create new shadow‑banking risks
Summary
Members and witnesses warned that legislation this week to expand stablecoins or exempt tokenized securities from SEC oversight could create new shadow‑banking linkages and increase taxpayer exposure if large platforms fail.
A substantial portion of the hearing focused on new financial products — notably stablecoins, tokenized securities and other crypto instruments — and whether recent bills would introduce shadow‑banking risks that could create systemic exposure.
Ranking Member Brad Sherman and several others warned that some bills pending before the House would give crypto instruments de facto legitimacy while removing traditional securities…
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