Sen Toomey Criticizes Biden Administration’s Stablecoin Report

The Biden administration recently released its long-awaited stablecoin report – and one government official isn’t entirely on board. Pat Toomey – Republican Senator and ranking member of the Senate Banking Committee –disagrees with treating stablecoins issuers as banks. Amid a booming crypto market and allegations against Tether, he adds fuels the fire surrounding crypto regulations. Toomey: Stablecoin Issuers Aren’t Banks Pat Toomey shared his thoughts on the report in an interview with Yahoo Finance earlier today. The Senator acknowledged that…