Potential Elon Musk Stablecoin Sparks Bipartisan Concerns, Maxine Water Terms It 'A Frightening Proposition'

Lawmakers are expressing concerns that proposed stablecoin legislation, set to pass the House Financial Services Committee, could inadvertently pave the way for tech moguls like Elon Musk to issue their own stablecoins. What Happened: During a markup of the bill, Rep.